The supply of labor curve has a ________ slope because as the real wage rate rises, ________
A) positive; the opportunity cost of leisure rises
B) negative; households work more hours
C) positive; the opportunity cost of leisure falls
D) positive; firms offer more jobs
E) negative; firms hire fewer workers
A
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GDP is defined as the market value of all ________ in a given time period
A) final goods produced in a country B) final goods and services produced by citizens of a particular country regardless of where in the world they are located C) final goods and services produced in a country by only the citizens of the country D) final goods and services produced in a country
When firms in an economy start producing more computers and fewer televisions, they are answering the ________ part of one of the two big economic questions
A) "when" B) "for whom" C) "what" D) "where"