Willie's wage increased, and he responded by enjoying more hours of leisure per day. Is Willie's behavior consistent with an upward-sloping labor-supply curve?
No. If Willie's labor-supply curve were upward-sloping, then, in response to the higher wage, Willie would work more hours and enjoy fewer hours of leisure per day.
Economics
You might also like to view...
The best hope for continued growth of the U.S. economy probably lies in:
a. a return of manufacturing to the U.S. b. innovation c. patents d. decreasing poverty
Economics
What are the two assumptions made in the nonactivist constant-money-growth-rate rule? Describe the alternative rule known as the predetermined-money-growth-rate rule and explain why some nonactivists prefer this rule
Economics