Consider an indifference curve for someone deciding how to allocate time between work (and thus consumption) and leisure. Suppose the wage increases. The substitution effect induces a person to work and consume V in response to higher wages. If consumption is a normal good, the income effect induces the person to consume V when the wage rises, but if consumption is an inferior good, the income effect induces the person to consume 7 in response to higher wages. True or False: It is possible that the person's consumption falls as a result of the higher wage. 0 True 0 False