The Income Effect of an Increase in the Wage Rate

question 37

Multiple Choice

The income effect of an increase in the wage rate on the quantity of leisure demanded

• A)makes leisure more expensive which leads people to work more.
• B)makes leisure less expensive which causes people to work less.
• C)gives people more purchasing power and causes people to work less.
• D)gives people less purchasing power and so they will work more.

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Definitions:

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Reproductive Cancer

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