Fiona's hourly wage decreases from $10 to $8 . Which of the following describes a consequence of the decrease in Fiona's wage?
a. The opportunity cost of Fiona's leisure time has increased.
b. Fiona may choose to work more hours due to the decrease in her wage.
c. Fiona may choose to work fewer hours due to the decrease in her wage.
d. Both b and c are correct.
d
You might also like to view...
If bond prices fall,
A) interest rates rise, which in turn, discourage investment. B) interest rates fall, which in turn, discourage investment. C) interest rates rise, which in turn, stimulate investment. D) interest rates fall, which in turn, stimulate investment.
A difference between a proprietorship and a partnership is that
A) a proprietorship is easy to form while a partnership is hard to form. B) a proprietorship has only one owner while a partnership has only two owners. C) a partnership allows for specialization while a proprietorship does not. D) the profits in a proprietorship are taxed only once while in a partnership they are taxed twice.