Multiple Choice
The opportunity cost of an hour of leisure:
A) is always assumed to be equal to the minimum wage.
B) is the hourly wage rate.
C) increases if the hour of leisure time is spent in an unproductive activity.
D) decreases if the hour of leisure is spent in a productive activity.
Correct Answer:
Verified
Correct Answer:
Verified
Q215: Wage differentials that arise because of innate
Q216: José,a corn farmer operating in a perfectly
Q217: In the U.S.labor market,African-Americans have the lowest
Q218: A profit-maximizing firm will hire workers up
Q219: Which factor is an input in the
Q221: The firm's value of marginal product curve
Q222: Use the following to answer question:<br>Figure: The
Q223: An efficiency wage is higher than the
Q224: If John's wage increases from $10 to
Q225: Approximately 71% of income generated in the