Please help me with this microeconomics question:

1. Why might an individual's labor supply curve be backward bending?

(a) Higher wages induce the individual to work more hours.

(b) The individual has a target income.

(c) The substitution effect dominates their labor supply decisions.

(d) The individual desires to purchase more consumer goods.

(e) The individual is solely motivated by financial gain.

2. In the neoclassical model of the perfectly competitive labor market, what does a firm do when the marginal revenue product of labor is

greater than the marginal factor cost of labor?

(a) It substitutes capital for labor.

(b) It hires more labor.

(c) It hires less labor.

(d) It raises prices.

(e) None of the above.

3. If the demand for labor is relatively wage elastic, an increase in labor supply will lead to . . .

(a) a large decline in wages.

(b) a small decline in wages.

(c) a large decline in employment.

(d) a small decline in employment.

(e) no change in wages or employment.

4. If a Lorenz curve is a 45-degree line sloping upwards, this means . . .

(a) that the society's distribution of income is highly unequal.

(b) that one household receives all the income in the society.

(c) that the society directs all its efforts toward the least fortunate.

(d) that all households in the society have the same income.

(e) that the society's Gini coefficient is 0.

5. Income from rents, profits, and interest is known as . . .

(a) capital income.

(b) dividend income.

(c) rent-seeking income.

(d) basic needs income.

(e) capabilities income.