When Households Consume More Leisure Time as a Results of a Transfer

question 25

Multiple Choice

When households consume more leisure time as a results of a transfer program,they reduce their labor supply,and the transfer is said to __________.Theoretically this decrease in labor supply could cause wages to ___________.

• A) Crowd out labor income; decrease
• B) Crowd out non-labor income; increase
• C) Crowd out labor income; increase
• D) Crowd out non-labor increase; decrease

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Definitions:

Perfection by Filing

A process in which a secured party files a financing statement with a public office, establishing the priority of their security interest over the claims of third parties regarding the same collateral.

Security Interest

A legal claim or right on assets granted to a creditor or a lender, to secure the repayment of a debt.

Automobile

A road vehicle, typically with four wheels, powered by an internal combustion engine or electric motor, used for transporting passengers.

Trademark

A symbol, word, or phrase legally registered or established by use as representing a company or product, offering protection against its use by others.