Question
If someones income increased (e.g. their budget constraint shifted outwards), would they work less and leisure more? And is this as a result of income
If someones income increased (e.g. their budget constraint shifted outwards), would they work less and leisure more? And is this as a result of income effect. Also, how would this be drawn on a graph?
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Principles Of Economics
Authors: Robert H. Frank, Ben Bernanke Professor, Kate Antonovics, Ori Heffetz
6th Edition
0078021855, 9780078021855
