Scenario 18-3 Sam Has Two Jobs, One for the Winter and One

question 390

Multiple Choice

Scenario 18-3
Sam has two jobs, one for the winter and one for the summer. In the winter, he works as a lift attendant at a ski resort where he earns $13 per hour. During the summer, he drives a tour bus around the ski resort, earning $11 per hour.
-Refer to Scenario 18-3. If Sam takes fewer hours of leisure in the summer than in the winter, we can assume that his labor supply curve for the range of earnings in this example

• A)is horizontal.
• B)is vertical.
• C)is upward sloping.
• D)has a backward-bending portion.

---

Definitions:

Investee

A company or entity in which an investor holds a minority ownership, typically less than 50%.

Voting Stock

Shares that give the shareholder voting rights in a company's decisions.

Net Income

A company's final profit after deducting all expenses and taxes from its total revenue.

Net Sales

Represents the revenues from goods and services sold after deducting returns, allowances for damaged or missing goods, and any discounts.