An increase in taxes on labor income shifts the labor supply curve ________, and the ________
A) leftward; after-tax wage rate falls
B) rightward; before-tax wage rate rises
C) leftward; before-tax wage rate does not change
D) leftward; after-tax wage rate rises
E) leftward; after-tax wage rate does not change
A
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The following equations represent the demand and supply for bird feeders
QD = 35 - P QS = -5 + 3P What is the equilibrium price (P) and quantity (Q - in thousands) of bird feeders? A) P = $5; Q = 30 thousand B) P = $35; Q = 20 thousand C) P = $20; Q = 20 thousand D) P = $10; Q = 25 thousand
The money supply increases when the Fed
a. lowers the discount rate. The increase will be larger the smaller the reserve ratio is. b. lowers the discount rate. The increase will be larger the larger the reserve ratio is. c. raises the discount rate. The increase will be larger the smaller the reserve ratio is. d. raises the discount rate. The increase will be larger the larger the reserve ratio is.