A Large Inheritance from a Relative Will Tend to

question 72

Multiple Choice

A large inheritance from a relative will tend to

• A)cause movement up and to the right along your labor supply curve
• B)cause movement down and to the left along your labor supply curve
• C)shift your labor supply curve outward
• D)shift your labor supply curve inward
• E)make the income effect of a wage increase positive

---

Definitions:

Population

The entire group of individuals living in a particular area or country, or the total number of people within a specified demographic group.

Private Good

A type of good that is both excludable and rival in consumption, meaning access to the good can be limited by a seller and its use by one person diminishes the availability to others.

Basic Research

Investigative study aimed at gaining a comprehensive understanding of the fundamental aspects of phenomena without immediate commercial goals.

Discrimination

The offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristics.