Taxes on labor income tend to encourage
a. workers to work fewer hours.
b. second earners to stay home
c. the elderly to retire early
d. the unscrupulous to enter the underground economy.
e. all of the above
e. all of the above
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The marginal product of a country's workers falls during winters due to excessive cold. Which of the following is likely to happen in this case, assuming all else equal?
A) The country's labor demand curve will shift to the right in winter. B) There will be an upward movement along the labor demand curve. C) The country's labor demand curve will shift to the left in winter. D) There will be a downward movement along the labor demand curve.
Consumers should purchase quantities of a good to the point where MU > P
a. True b. False Indicate whether the statement is true or false