If Wages Decrease and Workers Choose to Work More Hours

question 214

Multiple Choice

If wages decrease and workers choose to work more hours or more shifts, their behavior is evidence of

• A)the substitution effect.
• B)the income effect.
• C)rational expectations.
• D)rational ignorance.

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Definitions:

Perceived Cohesiveness

The extent to which members of a group see it as unified and bound together.

Consensual Standards

Agreed-upon norms or criteria among a group of people for making judgments or decisions.

Group Members' Actions

Group members' actions refer to the behaviors or activities carried out by individuals within a group setting, often influenced by group norms, roles, and dynamics.

Norms

Social rules or standards that govern the behaviors and expectations within a society or group.