Which of the Following Is a Result of Increased Real

question 172

Multiple Choice

Which of the following is a result of increased real wages in the United States?

• A)a decrease in the quantity of services demanded by households
• B)an increase in the opportunity cost of remaining employed in the home
• C)a decrease in the opportunity cost of working outside the home
• D)a decline in the number of households providing labor outside the home
• E)reduced use of labor-saving devices in households

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Definitions:

Landlord

The person or people that own a rented house or apartment.

Tenant

A person who rents a house or apartment.

Gross Income

The total income earned before any deductions or taxes are subtracted.

Back-end Ratio

A debt-to-income ratio that calculates the percentage of a person's gross income going toward paying all debt obligations, including mortgage and auto loans.