A critical component of supply-side economics is that
a. there is no wage that is so low that someone will not be willing to work for it.
b. as the wage gets higher, workers choose significantly less leisure.
c. labor supply is inelastic.
d. as the wage gets higher, workers are richer and choose more leisure.
B
Economics
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Refer to Figure 13-8. Based on the diagram, one can conclude that
A) some existing firms will exit the market. B) the industry is in long-run equilibrium. C) new firms will enter the market. D) firms achieve productive efficiency.
Economics
If a firm sells more than the break-even quantity,
a. It will make a profit b. It will only cover the variable costs c. It will make a loss d. A firm is unable to sell above the break-even quantity
Economics