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 186 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?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Coronary circulation. (A) Coronary vessels portraying the complexity and extent of the coronary circ Coronary circulation. (A) Coronary vessels portraying the complexity and extent of the coronary circ
Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
Durkheim believed that modern societies produce feelings of isolation, much of which come from the ... Durkheim believed that modern societies produce feelings of isolation, much of which come from the ...
Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
Classical complement activations. IgM and IgG3, IgG1, and IgG2 activate the classical pathway of ... Classical complement activations. IgM and IgG3, IgG1, and IgG2 activate the classical pathway of ...
Construct a Lorenz curve that shows income distribution in this society. Construct a Lorenz curve that shows income distribution in this society.
Video: Premenstrual Syndrome

For a complete list of videos, visit our video library