In general, it can be said that leisure is a "free good."
Answer the following statement true (T) or false (F)
False
The value of any activity will be at least the value of the opportunity cost. Therefore, the best estimate of the value of an hour of leisure is the hourly wage that could have been earned.
Economics
You might also like to view...
High interest rates might cause a corporation to ________ building a new plant that would provide more jobs
A) complete B) consider C) postpone D) contemplate
Economics
Which of the following characterizes a perfectly competitive market?
a. a few firms fiercely competing by slashing prices b. product differentiation through aggressive advertising c. perfect information d. limited resource mobility e. barriers to entry such as licenses
Economics