In the above figure, a shortage could be caused by a government price ceiling set at

Permanent resource price differentials are caused by

a. differences in resource quality b. differences in the time and training required to perform the job c. differences in nonmonetary aspects of the job d. a lack of resource mobility e. all of the above

When a low-income individual receives a transfer payment, that individual has less of an incentive to forgo leisure time for work time

a. True b. False Indicate whether the statement is true or false