Jason can maximize his satisfaction by allocating time among market work, nonmarket work, and ...

Jason can maximize his satisfaction by allocating time among market work, nonmarket work, and leisure so that the final marginal utilities per hour spent in each activity are identical.
 a. True
  b. False

QUESTION 2

The normal life-cycle pattern of income reflects differences in earnings based on
 a. race and education
  b. gender and education
  c. age and education
  d. race
  e. household size

QUESTION 3

If Dian chooses a job with a lower income over one with a higher income, she cannot be maximizing utility.
 a. True
  b. False

QUESTION 4

Which of the following statements about income and education in the United States is correct?
 a. There is no relationship between income and education.
  b. At every age, average earnings are higher for those with more education.
  c. Average earnings are higher for those with more education, but only if they are over the age of 60.
  d. Average earnings are higher for those with more education, but only if they are under the age of 60.
  e. Income levels peak at a younger age for those with college educations than they do for those with only elementary educations.

QUESTION 5

If the quantity of labor Sam supplies to a job is zero over the realistic range of wages, Sam
 a. is either unwilling or unable to perform the job
  b. has not been hired to do the job
  c. has not been hired to do the job at the going market wage rate
  d. is unable to perform the job
  e. is unwilling to perform the job

QUESTION 6

When family incomes are ranked from lowest to highest, the middle income is known as the
 a. median income
  b. mean income
  c. means-tested income
  d. official poverty level
  e. transfer income