If Income Effects Are Sufficiently Strong, It May Be the Case

question 21

True/False

If income effects are sufficiently strong, it may be the case that labor demand curves slope up.

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Definitions:

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Clearly stated stipulations in a contract that must be met for contractual obligations to be performed or for certain outcomes to take place.

Discharge

The completion, termination or nullification of a legal obligation or duty.

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Duties or responsibilities imposed by law, contract, or moral principals.

Contract

A legally enforceable agreement between two or more parties with mutual obligations.