Examlex
Which of the following is NOT a source of increased factor productivity?
Income Effect
The variation in income for a person or within an economy, and its influence on the demand levels for a certain good or service.
Labor-Supply Curve
A graph showing the relationship between the quantity of labor supplied and the wage rate, typically illustrating how higher wages encourage more labor supply.
Income Effect
The change in an individual's or household's consumption resulting from a change in real income, influencing purchasing power.
Leisure
The time spent away from work and essential activities, where one is free to engage in activities of choice.
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