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Which of the following is not true of a change in nonlabor income?
A) There is no income effect because a change in nonlabor income does not change the trade-off between work and leisure.
B) There is no substitution effect because a change in nonlabor income does not change a household's permanent income.
C) There is no income effect because a change in nonlabor income does not change a household's permanent income.
D) all of the above
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Principles of Macroeconomics

Principles of Macroeconomics


Edition: 11th
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JesslynJesslyn
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NYC Author
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#2
8 years ago
Good answer, thanks.
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