Suppose you are paid a wage of $50 per hour. if your marginal income tax rate is 20%, then for every additional hour you work, your after-tax wage is

To raise economic development, developing countries should

A) focus on producing service goods. B) produce goods that are capital intensive and not labor intensive. C) not focus on economic growth. D) focus on their comparative advantage.

You consume only steak and lobster. Your substitution effect from a drop in the price of lobster is measured by a movement along your indifference curve between steak and lobster

Indicate whether the statement is true or false