Directions: Choose the Best Answer Based on the Information You

question 11

True/False

Directions: Choose the best answer based on the information you read in Chapter 3.
​ Annotating a text should happen only after you have read the text once from start to finish.

---

Definitions:

Leisure

Leisure refers to the time available to an individual when not engaged in work, when one can relax, engage in recreational activities or hobbies.

Nonlabor Income

Income received from sources other than direct employment or labor, such as investments, retirement pensions, or social security benefits.

Wage Rate

The standard amount of compensation given for the performance of specific services, typically expressed per hour, day, or other periods of work time.

Budget Equation

An equation that represents the relationship between income, savings, and expenses.