If Leisure Is a Normal Good and the Wage Increases

question 55

Multiple Choice

If leisure is a normal good and the wage increases:

• A)labour supply may be upward sloping.
• B)labour supply may decrease if substitution effect for leisure outweighs the income effect.
• C)labour supply will shift to the right.
• D)labour supply must increase if substitution effect for leisure outweighs the income effect.

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Definitions:

Portraits

Artistic representations or photographs of people, capturing their likeness and often expressing their personality or mood.

Emotion

A complex psychological state that involves an experiential, physiological, and behavioral response to a stimulus.

Leadership Ability

The capacity or skill to guide, influence, or direct a group towards achieving set goals.

Group Cohesiveness

The extent to which members of a group are bonded together and committed to staying in the group.