Which of the Following Is TRUE of a Change in Nonlabor

question 51

Multiple Choice

Which of the following is TRUE of a change in nonlabor income?

• A)There is no substitution effect because a change in nonlabor income does not change the trade-off between work and leisure.
• B)There is no income effect because a change in nonlabor income does not change the trade-off between work and leisure.
• C)There is no substitution effect because a change in nonlabor income does not change a household's permanent income.
• D)There is no income effect because a change in nonlabor income does not change a household's permanent income.

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