The Figure Below Shows the Supply Curve for Labor

question 40

Multiple Choice

The figure below shows the supply curve for labor.Figure 16.1

-Which of the following statements contradicts an upward-sloping market-supply curve?`

• A)All people have backward-bending individual supply curves.
• B)Leisure is more enjoyable than work.
• C)The elasticity of labor supply is larger than the elasticity of labor demand.
• D)To work more means to enjoy less leisure.
• E)The opportunity cost of leisure decreases with an increase in wage rate.

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Definitions:

Projective Tests

Projective tests are psychological assessments that use ambiguous stimuli to elicit responses revealing aspects of an individual’s personality, desires, and conflicts.

MMPI

The Minnesota Multiphasic Personality Inventory, a standardized psychometric test of adult personality and psychopathology used to diagnose mental disorders.

Projective Measure

A psychological assessment tool in which individuals reveal their unconscious feelings, thoughts, and behaviors through their interpretations or storytelling of ambiguous stimuli.

Reliability

The degree to which an assessment or measurement is consistent and reproducible over time.