Because leisure is a normal good, an increase in income
a. decreases the demand for leisure time and reduces the amount of time allocated to market work
b. decreases the demand for leisure time and increases the amount of time allocated to market work and/or nonmarket work
c. increases the demand for leisure time and reduces the amount of time allocated to market work and nonmarket work
d. increases the demand for leisure time and increases the amount of time allocated to market work and nonmarket work
e. has no impact on the demand for leisure time
C
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The President of the United States appoints the
A) directors of the Federal Reserve regional banks. B) presidents of the Federal Reserve regional banks. C) Federal Advisory Council. D) members of the Board of Governors of the Federal Reserve.
A monopolistically competitive market can also be:
A. an oligopoly. B. a monopoly. C. perfectly competitive market. D. All of the above.