As the wage rate decreases, the amount of time spent on market work usually
a. increases because the opportunity cost of nonmarket work increases
b. increases because of the substitution effect
c. decreases because of the income effect
d. decreases because the value of leisure time increases
e. decreases because the opportunity cost of leisure declines
Question 2
Which of the following groups does not support the special interests of the elderly?
a. the elderly themselves
b. the relatives of the elderly
c. the housing industry
d. doctors and nursing home operators
e. those under 65 who are concerned about their future benefits
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