Jessica receives a raise at her current part-time job from $9 to $11 per hour. If her labor supply curve is backward sloping, she will work fewer hours after receiving the pay raise
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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In 2012, real GDP in the United States was below potential GDP. This fact definitely means that
A) the unemployment rate was near 10 percent. B) the unemployment rate was above the natural unemployment rate. C) the economy was in an expansion. D) cyclical unemployment had been decreasing. E) frictional unemployment was negative.
Economics
Based on the graph showing the effects of a government budget deficit, a budget deficit would ______.
a. increase the demand curve for loanable funds
b. decrease the demand curve for loanable funds
c. increase the supply curve for loanable funds
d. decrease the supply curve for loanable funds
Economics