When the ________ effect dominates the ________ effect, the labor supply curve is ________
A) income; substitution; vertical
B) substitution; income; positively sloped
C) income; substitution; negatively sloped
D) substitution; income; horizontal
C
Economics
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The distribution of income in the United States is characterized by the following relationship between the mean, median, and mode incomes
A) mean income < median income < mode income. B) mode income < median income < mean income. C) median income < mean income < mode income. D) mode income < mean income < median income.
Economics
In the figure above, the single-price, unregulated monopoly sets a price of
A) $80 per unit. B) $60 per unit. C) $40 per unit. D) $0 per unit.
Economics