Has no monetary incentive to work

Assignment Help Microeconomics
Reference no: EM13693971

Lesley is a single mother with 2 children. She can earn $10 per hour and can work up to 1,800 hours per year. However, if she does not earn any income at all, she will receive government benefits totalling $18,000 per year. For every $1 of income she earns, her level of government support is reduced by $1. Lesley

has no monetary incentive to work, though she may still choose to work

has a monetary incentive to work and will maximize her income if she works for 300 hours

has a monetary incentive to work and will maximize her income if she works for 600 hours

has a monetary incentive to work and will maximize her income if she works for 900 hours

Reference no: EM13693971

Questions Cloud

Who suffers from alleged ethical and legal lapses of airbus : In each of the cases described, who bene? ts and who suffers from the alleged ethical and legal lapses of Airbus and how should the public relations staff at Airbus respond to the articles appearing in The Economist, The Guardian and Reuters ..
Price elasticity of demand and total revenue : Explain the relationship between the price elasticity of demand and total revenue. What are the impact of various forms of elasticity (elastic, inelastic, unit elastic, etc.) on business decisions and strategies to maximize profit? Explain using empi..
Calculate the tower diameter and packing height : Calculate the tower diameter and packing height and calculate NTU - Ammonia in air being absorbed by a pure water stream in a packed tower.
What is the difference between scarcity and shortage : What is the difference between scarcity and shortage? Give an example of each and argue whether or not (for each of your examples) the problem of scarcity or shortage will ever be solved. If so, how?
Has no monetary incentive to work : Lesley is a single mother with 2 children. She can earn $10 per hour and can work up to 1,800 hours per year. However, if she does not earn any income at all, she will receive government benefits totalling $18,000 per year. For every $1 of income she..
Machine cost : If a machine cost $50,000 initially and is expected to last for 20 years but is worth $60,000 after one year because it is in short supply, an economist most likely would say that:
Lorenz curve is that you must transform the shares of income : The trick in graphing a Lorenz curve is that you must transform the shares of income _____________, which are shown in the first column of numbers in the table, into ___________, shown in the ________ column of numbers.
What amount of purchasing department cost : What amount of purchasing department cost
Labor markets that determine peoples wages : With respect to market forces and/or labor markets that determine peoples' wages, which of the following is a true statement?

Reviews

Write a Review

Microeconomics Questions & Answers

  1 which of the following statements is true about scarcitya

1 which of the following statements is true about scarcity?a scarcity refers to the situation in which unlimited wants

  Which of the following statements about the distribution of

which of the following statements about the distribution of physicians among specialties is true in the united states?a

  A perfectly competitive industry is initially in a short-run

A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits but are operating below their minimum

  State the effect on the entire banking system

Mr. Smith, a holder of a deposit account in Bank of Summertime, withdraws $ 2000 and immigrates to Wintertime. Show the position of the bank after it has adjusted to the withdrawal. (Assume no cash drain).

  Write down the difference between net income and operating

what is the difference between net income and operating cash flow? what is the difference between the primary and the

  Explain the law of downward-sloping demand

Over the last 30 years in the United States, the realprice of a college education after adjusting for inflation has increased by almost 70 percent.

  Compare monopoly outcome with perfectly competitive outcome

A monopolist faces a demand curve given by: P = 40 -Q, where P is the price of the good and Q is the quantity demanded. The marginal cost of production is constant and is equal to $2. There are no fixed costs of production.

  1 what is the rule of 702 nbspare all nations converging to

1. what is the rule of 70?2. nbspare all nations converging to the same level of real gdp per person? briefly discuss

  Define annual yield

A bond with no expiration date has a face value of $10,000 and pays a fixed 10 percent interest. If the market price of the bond rises to $11,000, the annual yield approximately equals.

  What circumstances might change the portfolios

Why do people hold bonds rather than larger savings account or checking account balances Under what circumstances might they change their portfolios, moving their funds out of bonds and into bank accounts

  Explain the difference between nominal and real gdp

Explain the difference between nominal and real GDP, andprovide a numerical example with your own numbers of how nominalGDP can be converted to real GDP.

  Do the opportunity cost of borrowing and using

Lender perceive that you are risky,so you must pay 12 annual percent interest to borrow from them. You only receive only 6 percent on the funds you have deposited in the bank.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd