If the Wage Rate Increases, the Substitution Effect Is for a Person

question 95

True/False

If the wage rate increases, the substitution effect is for a person to work less and the income effect is for a person to take less leisure.

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Definitions:

Thoracic Region

The portion of the body's trunk located between the neck and the abdomen, housing the chest organs including the heart and lungs.

Vertebra

One of the individual bones that make up the vertebral column (spine), providing structural support and protecting the spinal cord.

Pelvic Girdle

Site of attachment of the lower limb to the trunk; ring of bone formed by the sacrum and the coxal bones.

Appendicular

Pertaining to the limbs or extremities of the body, including the bones of the arms, legs, and the girdles (shoulder and pelvic) that attach them to the axial skeleton.