Work is an attractive use of your time
a. if the utility of consumption made possible by work exceeds the disutility of work itself
b. whenever you are paid a wage equal to or greater than the minimum wage
c. whenever you derive utility from the consumption made possible through work
d. unless time spent working is a source of disutility
e. only when marginal utility is negative for an additional unit of leisure
A
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The system of accounts for each country, based on the circular flow, whose purpose is to measure the level of economic activity is called:
A) the underground economy. B) national income accounting. C) bookkeeping. D) none of the above.
A depreciation of the currency can switch spending away from foreign goods and reduce the effect of rising incomes on the current account
Indicate whether the statement is true or false