This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: With respect to labor supply, the substitution effect takes account of the point that at higher wage ... (Read 131 times)

Tazate

  • Hero Member
  • *****
  • Posts: 532
on: Jun 29, 2018
With respect to labor supply, the substitution effect takes account of the point that at higher wage rates
 
  A) a person can afford to take more leisure.
  B) leisure has become less expensive and so a person consumes less leisure.
  C) there are no factors inducing a person to work less.
  D) leisure has become more expensive and so a person consumes less leisure.

Question 2

How does an increase in real GDP affect the demand for money curve?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

amanda_14

  • Sr. Member
  • ****
  • Posts: 342
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

An increase in real GDP increases the demand for money and shifts the demand curve rightward.


Tazate

  • Member
  • Posts: 532
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

cassie_ragen

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Ulysses S. Grant poses at City Point, Virginia, during the siege of Petersburg. Ulysses S. Grant poses at City Point, Virginia, during the siege of Petersburg.
Is the principle of cause and effect unfounded? Is the principle of cause and effect unfounded?
The Effect of Group Size on Relationships The Effect of Group Size on Relationships
Friction significantly influences airflow near Earth’s surface, but its effect is negligible at ... Friction significantly influences airflow near Earth’s surface, but its effect is negligible at ...
Fibromyalgia tender point sites. Fibromyalgia tender point sites.
. Calculate the net electric field at point B . Calculate the net electric field at point B
Video: Phases of mitosis

For a complete list of videos, visit our video library