Question

1. Which of the following would decrease the demand for labor?

(i)	a decrease in the output price
(ii)	an increase in the output price
(iii)	a labor-saving technological advance

Group of answer choices

(i) only

(i) and (iii) only

(i) and (ii) only

(ii) and (iii) only

2. If the wages of a CPA decrease,

(i)	her opportunity cost of leisure increases.
(ii)	her opportunity cost of leisure decreases.
(iii)	her hours of labor supply may increase.
(iv)	her hours of labor supply may decrease.

Group of answer choices

(i) and (iii) only

(ii) and (iv) only

(i), (iii), and (iv) only

(ii), (iii), and (iv) only

Answer 1