Other things equal, a country's long-run aggregate supply will shift to the right when the productivity of labor rises

A production possibilities frontier figure does NOT illustrate

A) the limits on production imposed by our limited resources and technology. B) the exchange of one good or service for another. C) opportunity cost. D) attainable and unattainable points.

Which of the following statements would be represented by a backward-bending labor supply curve?

a. A $50,000-a-year professor works more hours than a $20,000-a-year professor. b. The CEO of a major computer manufacturer works more hours than the union workers. c. The owners of a successful business work fewer days than do their employees. d. Hospital janitors work fewer hours than does the chief of obstetrics. e. High-ranking executives are more likely to work past 5:00 p.m. than are middle managers.