Fred's Hourly Wage Increases from $8 to $10

question 10

Multiple Choice

Fred's hourly wage increases from $8 to $10.Which of the following describes a consequence of the increase in Fred's wage?

• A)The opportunity cost of Fred's leisure time has decreased.
• B)Fred may choose to work fewer hours due to the increase in his wage.
• C)The tradeoff between work and leisure is now easier for Fred because he earns more money.
• D)Both a and b are correct.

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Definitions:

Antisocially

Acting in a manner that is contrary to the laws or norms of society, often harming or lacking consideration for the well-being of others.

Immorally

In a way that is not conforming to accepted standards of morality, often involving actions that are ethically wrong.

Cathartic Hypothesis

The idea that expressing or venting emotions, particularly negative emotions, can lead to psychological relief.

Frustration-Aggression Hypothesis

A theory suggesting that aggression is often a result of frustration, which arises from blocked goals or desires.