The Empirical Evidence That the Aggregate Amount of Labour Supplied

question 30

Multiple Choice

The empirical evidence that the aggregate amount of labour supplied declines in response to a permanent increase in the real wage confirms

• A)the substitution effect of higher real wage.
• B)the income effect of higher real wage.
• C)both substitution and income effects of real wage.
• D)that substitution effect dominates income effect.

---

Definitions:

Older Person

An individual who has reached an advanced stage of life, often characterized by increased experience, wisdom, and sometimes, challenges related to aging.

Chest Discomfort

A symptom that can manifest as pain, pressure, or tightness in the chest area, potentially indicative of cardiovascular problems or other health issues.

Hemoglobin Level

The concentration of hemoglobin in the blood, a critical factor in determining the blood’s capacity to carry oxygen to the body's tissues.

Pulse Oximetry

Pulse oximetry is a non-invasive method used to measure the oxygen saturation level of the blood.