Which of the Following Would Be Considered a "Leisure" Activity

question 129

Multiple Choice

Which of the following would be considered a "leisure" activity by economists?

• A)Mopping the floor at McDonald's for minimum wage
• B)Mopping your kitchen floor
• C)Folding sweaters while working at the Gap
• D)None of these activities would be considered leisure.

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Definitions:

Price Ceiling

A legally imposed limit on how high a price can be charged for a product, service, or commodity.

Equilibrium

A state in which market supply and demand balance each other, and as a result, prices become stable.

Quantity Demanded

The total amount of a good or service that consumers are willing to buy at a given price over a specified period.

Marginal Tax Rates

The rate at which an additional dollar of income is taxed, showing the percentage of tax applied to your income for each tax bracket you pass through.