200 150 ' Netherlands South \\0 - Korea Goods per day (5) U" D O 14 17 19 22 24 Free time per day (hours) a) Is it possible that people in Turkey and the US have the same preferences? If so, how will a wage rise in Turkey affect consumption and free time? What does this imply about the income and substitution effects? b) Suppose that people in Turkey and South Korea have the same preferences. In that case, what can you say about the income and substitution effects of a wage increase? 0) If wages in South Korea increased, would you expect consumption there to be higher or lower than in the Netherlands? Why