The Figure Given Below Shows the Income-Leisure Trade Off of an Individual.Figure

question 91

Multiple Choice

The figure given below shows the income-leisure trade off of an individual.Figure 16.5
AB and AC: Income constraints of the individual
I₁, I₂, and I₃ curves show the income leisure choices of the individual.
-One of the major impacts of restricting immigration is that the:

• A)prices of the products produced by unskilled laborers will decline.
• B)prices of the products produced by unskilled labor will increase.
• C)supply of labor in agriculture will increase.
• D)supply of labor in the industrial sector will rise.
• E)government's expenditure on education and health will rise.

---

Definitions:

Sharing Income

The distribution of profits among partners or shareholders in a business, often according to the proportion of ownership.

Current Asset

An asset likely to be converted into cash, sold, or consumed within one year or the operating cycle, whichever is longer.

Current Liability

A debt or obligation that is due within one year.

Revenue

The sum of money a business earns from selling products or offering services over a specific period.