Which of the following statements would be represented by a backward-bending labor supply curve?
A) A $50, 000-a-year professor works more hours than a $20, 000-a-year professor.
B) The CEO of a major computer manufacturer works more hours than the union workers.
C) The owners of a successful business work fewer days than do their employees.
D) Hospital janitors work fewer hours than does the chief of obstetrics.
E) High-ranking executives are more likely to work past 5:00 p.m.than are middle managers.
Correct Answer:
Verified
Q42: The income effect of a decrease in
Q43: If the substitution effect is always greater
Q44: The income and substitution effects of a
Q45: Exhibit 12-1 Q48: Along a backward-bending labor supply curve, the Q49: By itself, the substitution effect of an Q50: People generally view leisure Q51: The average work week in the United Q52: Because leisure is a normal good, an Q118: At a low wage rate,
A)income
A)as an inferior good
B)as
A) there is
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