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.
Related Mcqs:
- A tax whose burden is the same proportion of income for all households is ?
A. an equal tax
B. a proportional tax
C. a progressive tax
D. a regressive tax - If a result of households wish to save more there is a change in equilibrium income and no change in equilibrium saving this is an example of ?
A. market imperfection
B. the law of diminishing returns
C. the paradox of thrift
D. market failure - Disposable income is the part of households income left after the deduction of ?
A. income tax and social security payments
B. taxes and the addition of benefits
C. income tax
D. contractual payments such as pensions and mortgages - If marginal benefit is greater than marginal cost, a rational choice involves ?
A. no more of the activity.
B. less of the activity
C. more of the activity
D. more or less, depending on the benefits of other activities - The Choice between high markups and high volume is part of which of the following retailer marketing decisions ?
A. Target market decisions
B. Produced assortment and services decisions
C. Pricing decisions
D. Promotion decisions - Refer to Figure 1 What percent of the population vote for A when the choice is between A and B ?
A. 75 percent
B. 35 percent
C. 60 percent
D. 40 percent
E. 25 percent - If firms can neither enter nor leaves an industry, the relevant time period is the ?
A. immediate run
B. intermediate run
C. long run
D. short run - Because in-kind transfers are not accounted for in standard measures of income distribution the standard measures of income distribution ?
A. accurately represent the true inequality of living standards
B. understate the inequality of living standards
C. exaggerate the inequality of living standards
D. could exaggerate of understate the inequality of living standards depending on whether the transfers are goods or services. - The formula for the marginal revenue product of labour (L is for labour, X is the product) is ?
A. MPL + PX
B. (MPL) (PX)
C. PX/MPL
D. MPL/PX - An increase in the minimum wage will cause a relatively large increase in unemployment among ?
A. unskilled workers if the demand for labour is relatively inelastic
B. unskilled workers if the demand for labour is relatively elastic
C. skilled workers if the demand for labour is relatively elastic
D. skilled workers if the demand for labour is relatively inelastic
