The Average Work Week in the United States Has Declined

question 80

Multiple Choice

The average work week in the United States has declined to fewer than 40 hours even though wage rates have been increasing.The best explanation of this phenomenon is that

• A)the labor supply curve shifted to the right
• B)the labor demand curve shifted to the right
• C)the income effect of rising wages outweighed the substitution effect
• D)the income effect of rising wages could not outweigh the substitution effect
• E)none of the above

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Definitions:

Foreclosure Action

A legal process initiated by a lender to repossess and sell a property due to the borrower's failure to meet mortgage agreement terms.

Jurisdiction

The official power to make legal decisions and judgments, often within a specific geographical area or over particular types of cases.

Probate Court

A specialized judicial body that handles matters pertaining to wills, estates, and the distribution of a deceased person's assets.

Deceased Person's Estate

All the assets and liabilities left by an individual after death, which are subject to management and distribution.