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Author Question: The substitution effect of a decrease in the wage rate causes the quantity of labor supplied to a. ... (Read 93 times)

Mimi

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on: Jun 30, 2018
The substitution effect of a decrease in the wage rate causes the quantity of labor supplied to
 a. increase
  b. increase only if the individual desires more leisure time
  c. increase only if the substitution effect outweighs the income effect
  d. decrease
  e. decrease only if the individual lowers the value of leisure time

Question 2

The poverty rate of the elderly in the United States has
 a. been constant since 1959
  b. risen since 1959 because people are living longer
  c. fallen since 1959 because of the growth in Social Security and Medicare programs
  d. fallen since 1959 because of the growth in private retirement plans
  e. fallen since 1959, mainly because of inflation


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dawsa925

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Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

C


Mimi

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  • Posts: 542
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

upturnedfurball

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Reply 3 on: Yesterday
Excellent

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