This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The classical economists believed that a. labor supply is upward sloping because the income ... (Read 194 times)

EAugust

  • Hero Member
  • *****
  • Posts: 550
on: Jun 30, 2018
The classical economists believed that
 
  a. labor supply is upward sloping because the income effect is greater than the substitution effect.
  b. labor supply is upward sloping because the substitution effect is greater than the income effect.
  c. labor supply is downward sloping because the income effect is greater than the substitution effect.
  d. in equilibrium, the marginal product of labor must exceed the real wage.
  e. both b and d.

Question 2

With increases in inflation demand for money that does not earn a return decreases. Carrying less cash in our pockets means higher ________.
 
  A) shoe-leather costs
  B) menu costs
  C) capital gain tax bills
  D) all of the above
  E) none of the above


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cascooper22

  • Sr. Member
  • ****
  • Posts: 312
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

A


EAugust

  • Hero Member
  • *****
  • Posts: 550
Reply #2 on: Jun 30, 2018
Thank you :)


cascooper22

  • Sr. Member
  • ****
  • Posts: 312
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc
Women who are 65 and older have a lower median income from all sources than men in the same age ... Women who are 65 and older have a lower median income from all sources than men in the same age ...
Relationship between Income Inequality and the Desired Tax Rate Relationship between Income Inequality and the Desired Tax Rate
Relationship Between Income per Capita and Population Growth Relationship Between Income per Capita and Population Growth
Saving Rate by Decile of Income per Capita Saving Rate by Decile of Income per Capita
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: Insulin (glucose uptake by body cells), glycogenesis and lipogenesis

For a complete list of videos, visit our video library