Johnshould a nottakethejob

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Unformatted text preview: arket Skill: Analytic AACSB: Analytic Skills 21) Doug is not employed. He places a value of $16 an hour on his time in nonmarket activities. If Doug is offered a currently job paying $12 an hour, A) he should B) supply 0 hours in the labor market. he should C) supply a positive number of hours in the labor market and allocate no time to nonmarket activities. he is indifferent between supplying hours to the labor market and using his time in nonmarket activities. D) he should supply a positive number of hours in the labor market and to nonmarket activities. Answer: A Diff: 2 Topic: The Classical View of the Labor Market Skill: Analytic AACSB: Analytic Skills 22) John is contemplating whether he should take a job offered to him. John should A) not take the job if the value of his leisure is less than the wage rate the job pays. B) not take the job if the value of his leisure is greater than the wage rate the job pays. C) not take the job if taking the job implies he will enjoy less leisure. D) take the job if taking the job implies he will enjoy more leisure. Answer: B Diff: 2 Topic: The Classical View of the Labor Market Skill: Analytic AACSB: Analytic Skills 23) A new implemented that guarante...
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