If, for a $1000 premium, you buy a $100,000 call option on bond futures with a strike price of 110, and at the expiration date the price is 114, your ________ is ________

The labor demand curve represents the relationship between the quantity of labor demanded at:

A) different income tax rates. B) different values of average product of labor. C) different wage rates. D) different prices of the good that labor is used to produce.

Which of the following statements is FALSE?

A) When the relative price of a good falls, the substitution effect always leads the consumer to substitute more of that good for the other good. B) For a normal good, the income effect reinforces the substitution effect. C) For an inferior good, the income effect offsets the substitution effect. D) For an inferior good, the income effect is positive.