A Consumer Has Preferences Over Consumption and Leisure, Both of Which

question 138

Multiple Choice

A consumer has preferences over consumption and leisure, both of which are normal goods. When the wage decreases, the consumer chooses to consume less leisure. For this consumer the labor supply curve will

• A)slope upward.
• B)slope backward.
• C)be horizontal.
• D)be vertical.

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Definitions:

Bacterial Infection

An infection caused by bacteria, which can lead to a range of diseases, from minor skin infections to more serious conditions like pneumonia or meningitis.

Viral Infection

An illness caused by a virus, characterized by the invasion and multiplication of the virus within the host's body.

Amblyopia

A vision development disorder where an eye fails to achieve normal visual acuity, often referred to as "lazy eye."

Cataracts

A medical condition characterized by the clouding of the eye's natural lens, leading to decreased vision.