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Home Q & A Board Other Fields Homework Help Business Economics
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jumer01 jumer01
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6 years ago
As the wage rate increases, the income effect tends to reduce the quantity of labor supplied to the market.
 a. True
  b. False

QUESTION 2

In 2009, the official poverty level for a family of four was approximately
 a. 1,000
  b. 5,193
  c. 22,000
  d. 24,000
  e. 33,062

QUESTION 3

A consumer maximizes utility by allocating time so that the expected marginal utilities of the last unit of time spent in each activity are identical.
 a. True
  b. False

QUESTION 4

The official poverty level in the United States
 a. has been the same since 1980
  b. is the same as in other developed countries because it is based on a United Nations definition
  c. is defined by the United Nations
  d. is defined by the Department of Agriculture and based on food costs
  e. has been adjusted for inflation but not for changes in family size

QUESTION 5

Leisure time is not subject to diminishing marginal utility.
 a. True
  b. False
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ThemanishereThemanishere
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6 years ago
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6 years ago
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