For a typical person who is currently earning a low wage rate, the
a. substitution effect of a wage rate increase usually is stronger than the income effect
b. substitution effect of a wage rate increase usually is weaker than the income effect
c. income effect of a wage rate increase is usually zero
d. substitution effect of a wage rate increase is usually zero
e. substitution and income effects of a wage rate increase tend to work in the same direction
Question 2
Which of the following groups has experienced the greatest decrease in poverty rates since 1959?
a. the elderly
b. children
c. people 18 to 64 years old
d. women
e. none of the above (i.e., all of these groups have had higher poverty rates)
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