A backward-bending labor supply curve could possibly imply which of the following cases?
A) Leisure is an inferior good.
B) Leisure is a normal good.
C) Leisure is a normal good at low wages and inferior at high wages.
D) None of the above.
B
Economics
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As a unit of account, money is used
A) to hold purchasing power over time. B) to define prices of all other goods. C) to pay off future debts. D) to exchange for goods and services.
Economics
The required reserve ratio for a bank is set by:
a. Congress. b. the bank itself. c. the Treasury Department. d. the banking system. e. the Federal Reserve.
Economics