If I Used to Work 35 Hours a Week at $6

question 65

Multiple Choice

If I used to work 35 hours a week at $6 per hour, and now I work 40 hours a week at $5.25:

• A)the income effects and substitution effects are indistinguishable.
• B)the income effect is more important to me.
• C)the substitution effect is more important to me.
• D)my experience proves that labor markets are indeed imperfect.
• E)I have shifted the derived demand for my services upward.

---

Definitions:

Smart Plug

An electrical plug that can be controlled remotely using a smartphone app, allowing for automation and monitoring of electrical devices.

Reinforcement Learning

A type of machine learning where an agent learns to make decisions by taking actions in an environment to achieve some rewards.

Unsupervised Learning

A type of machine learning where algorithms learn patterns from untagged data, without any guidance on what outcomes to predict.

Supervised Learning

A type of machine learning where a model is trained on a labeled dataset, which means that each training example is paired with an output label.