When workers wages rise, their decision about how much time to spend working is affected in two conflicting ways- as you may have learned in courses in microeconomics. The income effect is the impulse to work less, because greater incomes mean workers can afford to consume more leisure. The substitution effect is the impulse to work more, because the reward for working and additional hour has risen (equivalently, the opportunity cost of leisure has gone up). Apply these concepts to Blanchards's hypothesis about American and European tastes for leisure. On which side of the Atlantic do income effects appear larger than substitution effects? On which side do the two effects approximately cancel? Do you think it is a reasonable hypothesis that tastes for leisure vary by geography? Why or why not?

He aldermanalderman company has prepared a sales budget of 42 comma 00042,000 finished units for a 3-month period. the company has an inventory of 10 comma 00010,000 units of finished goods on hand at december 31 and has a target finished goods inventory of 11 comma 00011,000 units at the end of the succeeding quarter. it takes 44 gallons of direct materials to make one unit of finished product. the company has inventory of 64 comma 00064,000 gallons of direct materials at december 31 and has a target ending inventory of 53 comma 00053,000 gallons at the end of the succeeding quarter. how many gallons of direct materials should aldermanalderman company purchase during the 3 months ending march 31? select the labels and enter the amounts to calculate the direct materials (gallons) to be purchased.

Joe finally found a house for sale that he liked. which factor could increase the price of the house he likes? a. both he and the seller each have a real estate agent. b. a home inspector finds faulty wiring in the house. c. the house has been for sale for almost a year. d. several buyers all want that same house.

You speak to a business owner that is taking in almost $2000 in revenue each month. the owner still says that they are having trouble keeping the doors open. how can that be possible? use the terms of revenue, expenses and profit/loss in your answer