Multiple Choice
If George treats home time as normal good and he receives gift money of $10,000 from his family,suppose his hourly wage working as a electrician stays the same,what will mostly likely to happen?
A) George will work less hours.
B) George will work more hours.
C) George will work the same amount.
D) We cannot predict George's reaction.
Correct Answer:
Verified
Correct Answer:
Verified
Q4: Suppose there is a reduction in the
Q5: All of the following statements are true
Q6: If consumers' income increases and the consumption
Q7: Joshua has income endowment of $1,000,the price
Q8: If one worker suppliers fewer hours of
Q10: A reduction in the price of good
Q11: Joshua has income endowment of $1,000,the
Q12: An increase in hourly wage will _
Q13: Why is labor demand a derived demand?
Q14: The price of home time is _.<br>A)