The More Work a Person Does, All Other Things Unchanged

question 147

Multiple Choice

The more work a person does, all other things unchanged, then the:

• A)greater his or her free time.
• B)greater his or her nonmarket use of time.
• C)less income he or she has.
• D)less leisure he or she has.

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Definitions:

Buyer

A person or entity that purchases goods or services.

T-bill

Treasury bill, a short-term government security with a maturity of less than one year, used to finance the national debt.

Simple Interest

The calculation of interest paid or received over a certain period that is based only on the principal amount, not including interest on interest.

Promissory Note

A financial instrument containing a written promise by one party to pay another a definite sum of money either on demand or at a specified future date.