When the Substitution Effect Is Greater Than the Income Effect

question 17

Multiple Choice

When the substitution effect is greater than the income effect, Juanita will not supply more work if

• A) the wage rate and the price level increase proportionately.
• B) the percentage increase in the price level is greater than the percentage change in wages.
• C) wages are falling faster than prices.
• D) all of the above

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Definitions:

Social Media Networks

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Buyer Personas

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