Which of the following does the labor-leisure budget constraint identify?
a. Only the labor-leisure combinations that are possible
b. Only the labor-leisure combinations that may be preferable
c. Only the hours of leisure that are possible
d. Only the income-leisure combinations that are possible
a
Economics
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Devaluation of a currency is
a. reduction in its domestic value due to inflation b. reduction in its international value due to changes in supply and demand c. reduction in its international value due to government decree d. reduction in the value of other currencies e. all of the above
Economics
If a resource has a perfectly elastic supply curve then its income is termed as:
a. economic rent. b. rental rate of capital. c. rental income. d. annuity. e. transfer earnings.
Economics