Author Question: When an individual's wage rises, the substitution effect tends to a. increase hours worked. b. ... (Read 48 times)

Chelseaamend · **on:** Jul 1, 2018

When an individual's wage rises, the substitution 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.

Question 2

In the study of labor supply, leisure refers to
a. time spent sleeping.
b. time spent doing absolutely nothing (except breathing).
c. time spent in one's place of residence.
d. time spent that is not spent in market work.