Question
The coefficient of wage elasticity of supply is defined as a. the percentage change in the quantity of labour supplied divided by the wage rate.
The coefficient of wage elasticity of supply is defined as
a. | the percentage change in the quantity of labour supplied divided by the wage rate. | |
b. | the percentage change in the wage rate divided by the percentage change in the quantity of labour supplied. | |
c. | the percentage change in the quantity of labour supplied divided by the percentage change in the wage rate. | |
d. | the quantity of labour supplied divided by the wage rate. |
When wage rates increase:
a. | The substitution effect encourages individuals to work more hours | |
b. | The income effect encourages individuals to work more hours. | |
c. | The substitution effect has a negative impact on the decision to work. | |
d. | The income effect has a positive impact on the decision to work. |
What is a payment to an individual in based on membership in a group called?
a. | Union dues | |
b. | Pay subsidy | |
c. | Tax rebate | |
d. | Demogrant |
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