Which of the Following Statements Is True

question 133

Multiple Choice

Which of the following statements is true?

• A)As the wage rate rises, the substitution effect decreases the opportunity cost of leisure and causes a worker to devote more time to working and less time to leisure.
• B)As the wage rate rises, the substitution effect increases the opportunity cost of leisure and causes a worker to devote more time to working and less time to leisure.
• C)As the wage rate rises, the income effect increases the opportunity cost of leisure and causes a worker to devote more time to working and less time to leisure.
• D)As the wage rate rises, the income effect causes a worker to devote more time to work and less time to leisure.

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Definitions:

Study Breaks

Short periods of rest taken during intense study sessions to improve focus and maintain performance over time.

Study Habits

Regular practices or routines that enhance the effectiveness and efficiency of learning or academic performance.

Concentrate

To focus all one's attention or mental effort on a particular object or activity.

Sociohistorical Context

Refers to the combination of social and historical factors that influence the conditions or events being studied or observed.