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Author Question: The typical labor supply curve is upward sloping but it is possible for the curve to be backward ... (Read 120 times)

kwoodring

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on: Jun 29, 2018
The typical labor supply curve is upward sloping but it is possible for the curve to be backward bending negatively slopedat very high wage levels. Which of the following would cause a backward-bending supply curve?
 
  A) This would occur if leisure is an inferior good.
  B) This would occur when the substitution effect from an increase in the wage becomes larger than the income effect.
  C) This would occur when a large number of workers choose leisure rather than employment at low wages; only a very large increase in the wage will lead these workers to prefer employment to leisure.
  D) This would occur when the income effect from an increase in the wage becomes larger than the substitution effect.

Question 2

Labor productivity is
 
  A) the quantity of capital one worker can produce in one day.
  B) the quantity of output produced in one hour by several workers.
  C) the quantity of output produced in one hour by one machine.
  D) the quantity of output produced by one worker or by one hour of work.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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heyhey123

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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kwoodring

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Reply #2 on: Jun 29, 2018
Thank you


heyhey123

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Reply #3 on: Jun 29, 2018
No problemo


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