If leisure is a normal good, then a decrease in income __________ the time allocated to __________

a. decreases; market work
b. decreases; leisure
c. decreases; nonmarket work
d. increases; leisure
e. increases; market work, nonmarket work, and leisure time

B

Economics

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The table above gives data for the nation of Syldavia. The current account has a

A) balance of $320 billion. B) $40 billion surplus. C) $40 billion deficit. D) $50 billion deficit. E) $30 billion deficit.

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For a perfect competitor, marginal revenue equals

A) the slope of the demand curve. B) average revenue divided by price. C) price divided by average revenue. D) the market price.

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