The total earnings of a worker are represented by E = 100 + $10(24 ? L), where E is earnings and L is the number of hours of leisure. How many hours of leisure are consumed if this worker's total earnings are $160?

Bonds are preferred to stock by individual investors who

a. need to have immediate access to their money b. don't think the business is profitable c. prefer a guaranteed lower return to a risky higher return d. prefer a risky higher return to a guaranteed lower return e. prefer dividends to interest payments

During the mid and last part of the 1990's both inflation and unemployment were low. In general this could have been the result of

a. adverse supply shocks that shifted the short-run Phillips curve left. b. adverse supply shocks that shifted the short-run Phillips curve right. c. favorable supply shocks that shifted the short-run Phillips curve left. d. favorable supply shocks that shifted the short-run Phillips curve right.