When the Wage Rate Rises,a Worker Is Better Off and Thus

question 67

Multiple Choice

When the wage rate rises,a worker is better off and thus chooses to have more leisure and more consumption.This phenomenon is known as

• A) compensating differential.
• B) the income effect.
• C) the substitution effect.
• D) intertemporal substitution.

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Definitions:

Prince Sports

Prince Sports is a company known for manufacturing equipment and apparel for tennis and other racquet sports.

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