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malabranche13 malabranche13
wrote...
Posts: 478
5 years ago

Question 1.

If the substitution effect dominates the income effect, an increase in transfer payments will have a positive effect on both consumption and labor supply.



▸ true

▸ false

Question 2.

The real wage rate is the nominal wage rate adjusted for inflation since some base year.



▸ true

▸ false
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
Read 95 times
1 Reply
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Answer verified by a subject expert
DryPhantomDryPhantom
wrote...
Posts: 382
5 years ago
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malabranche13 Author
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5 years ago
Brilliant
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Yesterday
Thank you, thank you, thank you!
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2 hours ago
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