For the Past Year, Ted Has Had a Part- Time

question 74

Multiple Choice

For the past year, Ted has had a part- time job at which he is willing to work 30 hours each week. During Ted's annual review, his boss grants him an 8 per cent increase in his wage. As a result of the wage increase, Ted is now willing to work 25 hours each week. Ted's opportunity cost of _______
Has risen and for Ted the substitution effect of the wage hike is _______ than the income effect.

• A) work; greater
• B) leisure; less
• C) work; less
• D) leisure; greater

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Definitions:

Reinfusion

The process of returning previously extracted blood or fluids back to the patient's body.

Pleural Space

The thin, fluid-filled gap between the two layers of the pleura, the membrane that lines the lungs and chest cavity, playing a crucial role in breathing.

Hemothorax

The accumulation of blood in the space between the chest wall and the lung, often due to trauma or injury.

Mediastinal Chest Tube

A chest tube placed in the mediastinal space to drain air, blood, or fluid, used in the treatment of conditions affecting the space between the lungs.