The fact that more women have chosen to work as real wages rise is evidence that, for them
a. leisure is an inferior good.
b. income and substitution effects of higher real wages work in the same direction.
c. income and substitution effects of higher real wages may work in opposite directions.
d. income and substitution effects may work in opposite directions but that the substitution effect is stronger.
d
Economics
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The negatively-sloped part of the long-run average total cost curve is due to which of the following?
A) Diseconomies of scale. B) Diminishing returns. C) The difficulties encountered in coordinating the many activities of a large firm. D) The increase in productivity that results from specialization.
Economics
Give five examples showing how different factors affect interest rate calculations
What will be an ideal response?
Economics