As job opportunities for women and the wages those jobs pay have increased, the opportunity cost of doing housework has ________, so many families have chosen to hire specialists in households chores, such as cleaning services and lawn care services
, because the cost of these specialists is ________ than the cost of the wife (or husband) performing those chores.
A) decreased; lower B) increased; higher C) decreased; higher D) increased; lower
D
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A rent ceiling on housing creates a problem of allocating the available housing units because
A) the demand for housing decreases and the demand curve shifts leftward. B) the supply of housing increases and the supply curve shifts rightward. C) a shortage of apartments occurs. D) a surplus of apartments occurs. E) it eliminates search, which is one of the major ways housing units are allocated.
Neoclassical economics tend to make inaccurate predictions of human behavior in situations involving:
A. Price changes B. Financial incentives C. Firms' profits D. Uncertainty and fairness