Georgina Earns 6 Dollars an Hour

question 22

Multiple Choice

Georgina earns 6 dollars an hour.She has no nonlabor income.She has 100 hours a week available for either labor or leisure.Her utility function is U(c, r) = cr³, where c is dollars worth of goods and r is hours of leisure.How many hours per week will she work?

• A)23
• B)25
• C)28
• D)50
• E)None of the above.

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Private Capital

Funds or assets owned by individuals, companies, or investors, not by the government or public entities.

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An international lending institution that offers financial aid and grants to the governments of developing countries for capital project initiatives.

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An increase in the production of goods and services in an economy over a period of time, typically measured by the rise in real GDP.

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Nations with a lower standard of living, underdeveloped industrial base, and lower Human Development Index (HDI) compared to developed countries.