Hello: I need help with the following Questions:

Question 1:

The income effect of an increase in wage is ) a. no change in the hours of work supplied by labor. ) b. an ambiguous effect on the hours of work supplied by labor. ) c. a decrease in the hours of work supplied by labor. ) d. an increase in the hours of work supplied by labor. .Acoording to the permanent income hypothesis ) a. MP0 out of permanent income is higher than MPC out of transitory income. D b. MPC out of permanent income can be higher or lower than MPC out of transitory income depending on the tax policies of the government. D c. MPC out of permanent income is less than MPC out of transitory income. ) d. MPC out of permanent income is equal to MP0 out of transitory income. . It is expected that the Social Security system in the USA will run out of funds by 30. Which of the following consumption models would best predict and explain a current Social Security problems? > a. Permanent Income Hypothesis D b. Life-Cycle Hypothesis > C. Keynesian Consumption Function ) d. Relative Income Hypothesis