If Someone Has a Cobb-Douglas Utility Function and No Income

question 42

True/False

If someone has a Cobb-Douglas utility function and no income from any source other than labor earnings, then an increase in wages will not change the amount that person chooses to work.

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Definitions:

Observational Learning

A learning process through which behaviors are acquired by watching and imitating others.

Primary Reinforcers

Stimuli that are naturally rewarding and satisfy basic biological needs, such as food, water, and warmth, and do not require learning to be effective.

Secondary Reinforcers

Stimuli that have acquired reinforcing properties through their association with primary reinforcers, such as money or praise.

Discriminative Stimulus

A stimulus in the presence of which a particular response will be reinforced, and in the absence of which that response is less likely to occur.