Question
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.
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. |
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Contemporary Labor Economics
Authors: Campbell R. McConnell, Stanley L. Brue, David Macpherson
11th Edition
1259290602, 1259290603, 978-1259290602
