If Leisure Is a Normal Good for Randy, Then Both

question 204

True/False

If leisure is a normal good for Randy, then both the substitution effect and the income effect of a decrease in the wage rate will cause Randy to work fewer hours.

---

Definitions:

Expression

Any mathematical phrase that can contain numbers, variables, and operation symbols, but does not have an equality symbol.

Simplify

The act of making an expression as simple as possible.

Expression

A combination of symbols that jointly express a quantity or number, which can include variables, constants, and operating symbols.

Simplify

The process of making a mathematical expression as simple as possible by performing all operations and reducing to the fewest terms.