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Author Question: Households' labor supply decisions are influenced by all of the following except _______. A. the ... (Read 43 times)

rayancarla1

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on: Jun 29, 2018
Households' labor supply decisions are influenced by all of the following except _______.
 
  A. the opportunity cost of taking leisure and not working
  B. the after-tax wage rate
  C. unemployment benefits
  D. the number of full-time jobs available

Question 2

Refer to Figure 6-4. Which of the following statements about price elasticity of demand is true?
 
  A) The inelastic portion of the demand curve corresponds to the segment above the midpoint.
  B) At the midpoint of the demand curve, the elasticity coefficient is zero.
  C) The elastic portion of a straight-line, downward-sloping demand curve corresponds to the segment above the midpoint.
  D) The elasticity coefficient is constant along the demand curve.


scrocafella

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D The number of full-time jobs available reflects firms' demand for labor not households' supply of labor.

Answer to Question 2

C


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