The Substitution Effect of a Decrease in the Wage Rate

question 265

Multiple Choice

The substitution effect of a decrease in the wage rate would lead most people to

• A)supply less labor and demand less leisure.
• B)supply less labor and demand more leisure.
• C)supply more labor and demand less leisure.
• D)supply more labor and demand more leisure.

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Definitions:

Bone Conduction

The process by which sound waves pass through the bones of the skull directly to the inner ear, bypassing the outer and middle ears.

Lens Shape

The geometric form of a lens, affecting its focusing properties and the quality of the image it produces.

Medial Aspect

Refers to the part of a body or structure that is nearer to the midline of the body or to a median plane.

Eyeball

The spherical part of the eye that contains the iris, pupil, and retina, and is responsible for vision.