chapter_9_long

298 25 c page ref p 287 26 e page ref p 272 27 c page

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Unformatted text preview: ) B Page Ref: P. 273 32) B Page Ref: P. 291 33) A Page Ref: P. 267 34) B Page Ref: P. 293 35) B Page Ref: P. 298 36) B Page Ref: P. 273 37) B Page Ref: P. 276 38) Labour supply is the amount of labour that consumers are willing to make available in the market. It is determined by the current real wage, the real interest rate and lifetime wealth. Basic human nature suggests that consumers will substitute away from leisure and more towards work when the current real wage rises. Higher interest rates will also prompt consumers to offer more labour. An increase in lifetime wealth actually reduces current labour supply as consumers opt to consume more leisure. Page Ref: P. 266-267 39) C Page Ref: P. 281 40) C Page Ref: P. 293 41) E Page Ref: P. 270 42) A Page Ref: P. 266 43) D Page Ref: P. 276 44) C Page Ref: P. 268 11 Answer Key Testname: UNTITLED3 45) B Page Ref: P. 282 46) C Page Ref: P. 274 47) B Page Ref: P. 263 48) B Page Ref: P. 289 49) C Page Ref: P. 299 50) E Page Ref: P. 274 51) A Page Ref: P. 266 52) B Page Ref: P. 268 12...
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This document was uploaded on 02/24/2014 for the course ECON 2152 at UWO.

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