For a worker, the opportunity cost of an hour of leisure
a. rises by $8 when his wage rises by $8 per hour.
b. falls by $8 when his wage rises by $8 per hour.
c. is the same for a celebrity talk-show host as it is for a teacher.
d. is determined by factors that are unrelated to his hourly wage.
a
Economics
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The three major categories of government spending are
A) government purchases, defense spending, and interest payments. B) defense spending, Medicare and Medicaid, and net interest. C) government purchases, transfer payments, and net interest. D) government purchases, defense spending, and transfer payments
Economics
Why is the government budget constraint different between the short run and the long run?
What will be an ideal response?
Economics