Author Question: If the substitution effect is always greater than the income effect, then an individual's labor ... (Read 72 times)

Arii_bell · **on:** Jun 30, 2018

If the substitution effect is always greater than the income effect, then an individual's labor supply curve will
a. bend backward
b. always have a positive slope
c. always have a negative slope
d. be vertical
e. be horizontal

Question 2

If the fraction of the population that is below the official poverty level has decreased, then
a. the number of poor must have increased
b. the number of poor must have decreased
c. the population must have increased
d. the number of poor may have increased or decreased
e. the number of people above the official poverty level must have increased