Which of the Following Statements Would Be Represented by a Backward-Bending

question 105

Multiple Choice

Which of the following statements would be represented by a backward-bending labor supply curve?

• A)A $50, 000-a-year professor works more hours than a $20, 000-a-year professor.
• B)The CEO of a major computer manufacturer works more hours than the union workers.
• C)The owners of a successful business work fewer days than do their employees.
• D)Hospital janitors work fewer hours than does the chief of obstetrics.
• E)High-ranking executives are more likely to work past 5:00 p.m.than are middle managers.

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Definitions:

International Trade

The exchange of goods, services, and capital across international borders or territories, which involves the import and export activities between different countries.

Prosperity

A state of economic well-being and successful, flourishing conditions, often associated with wealth.

Exports

Goods or services produced in one country and sold to buyers in another, contributing to a nation's gross domestic product.

Balance of Trade Deficit

Occurs when a country's imports exceed its exports during a given time period, indicating that it is spending more on foreign trade than it is earning.