In general, the labor supply curve A) is perfectly elastic at ...

[nramada]

In general, the labor supply curve
 
  A) is perfectly elastic at the equilibrium wage rate.
  B) is vertical at the equilibrium wage rate.
  C) slopes upward because as the wage rises the opportunity cost of leisure increases.
  D) slopes downward because firms will hire fewer workers at higher wages.

Question 2

If the marginal tax rate is less than the average tax rate as taxable income increases, the tax structure is
 
  A) proportional. B) progressive. C) unfair. D) regressive.

[lcapri7]

Answer to Question 1

C

Answer to Question 2

D