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QUESTION 5 Which of the following statements is correct? 0 Suppose leisure is a normal good, then an increase in nonilabor income always increases labor

QUESTION 5 Which of the following statements is correct? 0 Suppose leisure is a normal good, then an increase in nonilabor income always increases labor supply. 0 Suppose leisure is a normal good. then an increase in wage rate increases labor supply if the income effect dominates the substitution effect. 0 Suppose leisure is an inferiorgood. then an increase in non-labor income increases leisure hours. 0 Suppose leisure is a normal good. then an increase in non-labor income reduces labor supply

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