An increase in wages raises the opportunity cost of leisure and leads to an increase in the quantity of labor supplied

During a recession:

a. Net exports tend to rise. b. Consumption tends to rise. c. Net exports remain unchanged. d. Businesses tend to invest more in new plant and equipment. e. Inventories tend to fall as businesses sell them off.

Expenditures on human capital

a. reflect an expectation of some future return on the investment. b. are generally embodied in a specific individual. c. reflect an investment of resources today to raise productivity in the future. d. All of the above are correct.