Javon Has 80 Hours Per Week to Allocate Between Labor

question 162

Multiple Choice

Javon has 80 hours per week to allocate between labor and leisure. Graph hours of leisure per week on the horizontal axis and income per week on the vertical axis. If Javon's hourly wage is $8, then the horizontal intercept of his time allocation budget line is:

• A) $8.
• B) $640.
• C) 40 hours.
• D) 80 hours.

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Definitions:

Third World

A term originally used to describe countries not aligned with either the NATO or Communist Blocs, often used now to refer to developing nations.

Colonialism

The policy or practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically.

Missile Gap

The claim, raised by John F. Kennedy during his campaign for president in 1960, that the Soviet Union had developed a technological and military advantage during Eisenhower’s presidency.