The Substitution Effect of a Real Wage Increase Is Observed

question 70

Multiple Choice

The substitution effect of a real wage increase is observed when

• A) the higher wage causes workers to take more leisure and work more hours.
• B) the higher wage causes workers to take more leisure and work fewer hours.
• C) leisure's higher opportunity cost causes workers to take less leisure and work more hours.
• D) leisure's higher opportunity cost causes workers to take more leisure and work fewer hours.

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