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gorgeous gorgeous
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5 years ago

Question 1.

The substitution effect of a wage decrease examines the effect of the decrease in wage income on a worker's ability to consume goods and services.

• true

• false

Question 2.

If the income effect of a wage increase equals the substitution effect, the labor supply curve is horizontal at the equilibrium wage.

• true

• false
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
Read 68 times
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zachcarytcriszachcarytcris
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gorgeous Author
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5 years ago
Helps a lot... Now I'm ready for my quiz
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