As the wage rate per hour increases, the opportunity cost of leisure ?

Related Mcqs:

A period of unemployment due to recession will ?

A. increase a worker’s current income and permanent income B. reduce a worker’s current income but not necessarily their permanent income C. affect neither the current nor the permanent income of a worker D. reduce a worker’s permanent income but not their current income...

In a competitive labour market firms will hire labour up to the point where the marginal revenue product of labour equals ?

A. total labour cost B. the marginal product C. the price of the product D. the wage rate...

Tax shifting ?

A. is the way in which a tax is structured B. occurs when households can alter their behaviour and do something to avoid paying tax C. occurs when taxes cause prices to increase but wages to fall. D. is the ultimate distribution of a tax’s burden...

Constrained choice is relevant for households ?

A. making spending decision but not labour-supply decision. B. making both spending and labour-supply decisions C. considered to be ‘poor’ but not for those who are considered to be ‘rich’ D. making labour-supply decisions but not spending decisions....

A progressive income tax means that those with a higher income pay ?

A. a higher percentage of their income in taxes then low income people B. a lower percentage of their income in taxes than low income people C. the same percentage of their income in taxes as low income people all the taxes in the economy. D. all the taxes in the economy...