An increase in nonlabor income leads to
a. a fall in the quantity of labor supplied and in consumption.
b. a fall in the quantity of labor supplied but an increase in consumption.
c. an increase in the productivity of labor.
d. a fall in the wage rate.
b. a fall in the quantity of labor supplied but an increase in consumption.
Economics
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Which of the following would be included in the calculation of GDP?
(A) Time and effort spent shopping for your household. (B) Paying your nephew to mow the lawn. (C) Purchasing a new vehicle. (D) Selling your car to a friend.
Economics
A minimum wage law is a:
A. quantity restriction. B. customary norm without legal structure or protection. C. price ceiling. D. price floor.
Economics