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tlc_71111 tlc_71111
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5 years ago

Question 1.

The income effect of a wage rate increase should lead to



▸ an increase in the quantity of labor supplied and a decrease in leisure.

▸ an increase in the quantity of labor supplied and an increase in leisure.

▸ a decrease in quantity of labor supplied and an increase in leisure.

▸ a decrease in the quantity of labor supplied and a decrease in leisure.

Question 2.

If the income effect is equal to the substitution effect, the labor supply curve



▸ is horizontal.

▸ is vertical.

▸ has a negative slope.

▸ has a positive slope.
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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beunikuelbeunikuel
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tlc_71111 Author
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5 years ago
Thank you
Do What Makes You Come Alive
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