Which Statement Is TRUE

question 76

Multiple Choice

Which statement is TRUE?

• A) The income effect of a wage increase is to consume less leisure.
• B) The substitution effect of a wage decrease is to consume less leisure.
• C) The price of leisure decreases with a decrease in wages.
• D) The price of leisure increases with an increase in income.

---

Definitions:

Continuing Rise

An ongoing increase or upward trend in a particular metric, such as price, value, or volume.