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Author Question: If an individual's supply of labor curve is positively sloped throughout, then a. the substitution ... (Read 66 times)

chads108

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on: Jul 1, 2018
If an individual's supply of labor curve is positively sloped throughout, then
 a. the substitution effect always dominates the income effect.
  b. the income effect always dominates the substitution effect.
  c. the substitution effect dominates at low real wage levels and the income effect dominates at high real wage levels.
  d. the income effect dominates at low real wage levels and the substitution effect dominates at high real wage levels.

Question 2

When an individual's wage rises, the income effect tends to
 a. increase hours worked.
  b. decrease hours worked.
  c. leave hours worked unchanged.
  d. it is impossible to predict what will happen to hours worked.


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carlsona147

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

b


chads108

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Reply #2 on: Jul 1, 2018
Thank you


carlsona147

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Reply #3 on: Jul 1, 2018
No problemo


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