Which one of the following occurs when an individual enters the paid work force? O a. The opportunity cost of time for housework decreases, because increased earning power makes individuals less likely to do their own housework. O b. The opportunity cost of time for housework decreases, because as more people enter the work force, businesses have greater incentives to develop innovations that make housework more efficient. O c. The opportunity cost of time for housework increases, because money earned at a job can allow individuals to pay someone to do household chores that the individuals used to do themselves. O d. The opportunity cost of time for housework increases, because time spent on housework could be spent on money-earning activities.
Which one of the following occurs when an individual enters the paid work force? O a. The opportunity cost of time for housework decreases, because increased earning power makes individuals less likely to do their own housework. O b. The opportunity cost of time for housework decreases, because as more people enter the work force, businesses have greater incentives to develop innovations that make housework more efficient. O c. The opportunity cost of time for housework increases, because money earned at a job can allow individuals to pay someone to do household chores that the individuals used to do themselves. O d. The opportunity cost of time for housework increases, because time spent on housework could be spent on money-earning activities.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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