An unemployed salesperson has been offered a job paying Rs500 a week. He turns that job down and continues to search for another job that pays more. The cost of this continued search is ?

Related Mcqs:

The substitution effect of higher wages suggests that as the wage rate increases ?

A. leisure becomes less expensive and households buy more of it B. leisure becomes more expensive and households buy more of it C. leisure becomes more expensive and households buy less of it D. leisure becomes less expensive and households buy less of it....

A tax whose burden expressed as a percentage of income, falls as income increases is a ?

A. benefits received tax B. progressive tax C. regressive tax D. proportional tax...

Housing Benefit is a good example of ?

A. a means tested cash benefit B. a universal (social insurance based) benefit C. a benefit in kind D. none of the above...

Assuming leisure is a normal good, if the income effect is greater than the substitution effect a wage increase ?

A. will have no effect on labour supply B. will decreases labour supply C. could cause either an increases or a decrease in labour supply D. will increase labour supply....

VAT is a good example of which kind of tax ?

A. specific B. Direct C. Ad valorem D. Excise duty...