If the consumer s non-labor income increases while wages remain unchanged, what will happen to the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
If the consumer s non-labor income increases while wages remain unchanged, what will happen to the budget line? A) The budget line shifts inward without a change in slope. B) The budget line rotates inward from the intercept on the horizontal axis. C) The budget line rotates outward from the intercept on the vertical axis. D) The budget line shifts outward without a change in slope. An optimum labor-leisure that occurs as a corner solution A) can be an equilibrium in the aggregate economy. B) includes the consumption of only one good. C) cannot exhaust the budget constraint. D) includes the exact same amounts of each good. ) If a firm is a price taker in both the labor market and the output market, it will A) hire labor until the marginal product of labor equals the output price. B) hire labor until the marginal product of labor equals zero. C) earn zero economic profit in the short run. D) hire labor until the marginal product of labor equals the wage rate. If the consumer s non-labor income increases while wages remain unchanged, what will happen to the budget line? A) The budget line shifts inward without a change in slope. B) The budget line rotates inward from the intercept on the horizontal axis. C) The budget line rotates outward from the intercept on the vertical axis. D) The budget line shifts outward without a change in slope. An optimum labor-leisure that occurs as a corner solution A) can be an equilibrium in the aggregate economy. B) includes the consumption of only one good. C) cannot exhaust the budget constraint. D) includes the exact same amounts of each good. ) If a firm is a price taker in both the labor market and the output market, it will A) hire labor until the marginal product of labor equals the output price. B) hire labor until the marginal product of labor equals zero. C) earn zero economic profit in the short run. D) hire labor until the marginal product of labor equals the wage rate.
Expert Answer:
Related Book For
Fundamentals of Financial Management
ISBN: 9780273713630
13th Revised edition
Authors: James van Horne, John Wachowicz
Posted Date:
Students also viewed these marketing questions
-
If a firm is changing its strategy from an international to a transnational strategy, what are the most important challenges it is likely to face in implementing this change? How can the firm...
-
If a firm is uncertain whether an expenditure will benefit one or more than one accounting period, or whether it will increase the capacity or useful life of an operational asset, most firms will...
-
If a firm is successful domestically, is it likely to be successful internationally? Why or why not?
-
Sam's Furniture uses variance analysis to evaluate manufacturing overhead in its' factory. The information for the June overhead expenditures is as follows: Budgeted output units 22,000...
-
What is the difference between (a) A public and privately held corporation, (b) An open and closed corporation, and (c) A domestic and foreign corporation (as viewed by a particular state)?
-
A viscometer is built from a conical pointed shaft that turns in a conical bearing, as shown. The gap between shaft and bearing is filled with a sample of the test oil. Obtain an algebraic expression...
-
What are the differences between average hourly earnings and the employment cost index?
-
Burklin, Inc., has earnings of $18 million and is projected to grow at a constant rate of 5 percent forever because of the benefits gained from the learning curve. Currently, all earnings are paid...
-
Step 3: Testing Your Configuration Update 1. Restart the SSH service. [Your solution command here] 2. Exit the root account. [Your solution command here] 3. SSH to the target machine using your sysd...
-
1. What are the advantages and disadvantages of the in-home method of selling Project Home products? 2. What other channels of distribution might Project Home use? 3. What do you think about the name...
-
Descartes attempted to doubt everything away that he had, up till then, held to be true, in order to start philosophy off on the completely new ground. In order to do this he imagined that even the...
-
Assume that you and some of your classmates will form a partnership of some type for the sole purpose of investing in real estate. You meet at your favorite restaurant and draft an informal agreement...
-
Draw a sketch of Graph A from this lesson and carefully circle when a hand was in contact with the The sketch only must show the shape of the graph. It does not have to be exact. Mark an at the point...
-
How does public back assume a critical part in a money contextual analysis, and what are the vital contemplations and difficulties legislatures and policymakers face while overseeing public assets...
-
What is the reason for a support chain while disseminating the clock? [4 marks] 1 [TURN OVER CST.98.7.2 2 Specification and Verification I Portray momentarily the contrast among adequacy and...
-
Using the following historical data, what was AMZN's Sharpe ratio over the last 5 years, if the risk free rate over the same period averaged 0.6%? (Reminder: Use the geometric mean). Adj. Closing...
-
1- Write a program that computes the sum of the odd numbers and even numbers between a and b (both are included) inputted by the user and returns the results. For this, the function sum_number()...
-
What are the risks and liability factors in an audit? What are the implications to the auditor? What are the implications to the organization? How can the auditor mitigate these risks and liability...
-
Able Elba Palindrome, Inc., is evaluating a capital investment project. The after-tax cash flows for the project are listed as follows: YEAREXPECTED CASH FLOW 0..$-400,000 1.. 50,000 2.. 50,000 3.....
-
The Bates Pet Motel Company is considering opening a new branch location. If it constructs an office and 100 pet cages at its new location, the initial outlay will be $100,000, and the project is...
-
Define a shelf registration and an automatic shelf registration. What types of public companies can use a shelf registration and/or an automatic shelf registration?
-
Consider the following time series data. a. Construct a time series plot. What type of pattern exists in the data? b. Show the four-quarter and centered moving average values for this time series. c....
-
Refer to exercise 35. a. Deseasonalize the time series using the adjusted seasonal indexes computed in part (c) of exercise 35. b. Using Minitab or Excel, compute the linear trend regression equation...
-
The following table reports prices and usage quantities for two items in 2009 and 2011. a. Compute price relatives for each item in 2011 using 2009 as the base period. b. Compute an unweighted...
Study smarter with the SolutionInn App