For a household, the opportunity cost of not working is the
A) nominal wage rate.
B) demand for labour.
C) real wage rate.
D) cost of living.
E) price level.
Correct Answer:
Verified
Q35: The effect of an increase in population
Q36: The factors of production that produce real
Q37: The production function displays
A) increasing returns.
B) diminishing
Q38: Q39: As additional units of labour hours are Q41: One possible way of achieving faster economic Q42: According to the new growth theory, which Q43: Human capital is defined as the Q44: The effect of an increase in labour Q45: Property rights
A) accumulated
A) include physical, financial and intellectual
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents