This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Assuming that leisure is a normal good, if an individual's labor supply curve is upward sloping, then the (Read 79 times)

Shelles

  • Hero Member
  • *****
  • Posts: 582
on: Apr 19, 2019

Question 1

Assume leisure is an inferior good instead of a normal good. The income effect of a wage decrease will lead to a ________ demand for leisure and a ________ labor supply.


◦ higher; higher
◦ higher; lower
◦ lower; higher
◦ lower; lower

Question 2

Assuming that leisure is a normal good, if an individual's labor supply curve is upward sloping, then the


◦ income effect outweighs the substitution effect at higher wages.
◦ substitution effect outweighs the income effect at higher wages.
◦ income effect and the substitution effects are equal.
◦ income effect is zero.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Shelles on Apr 19, 2019

shailee

  • Sr. Member
  • ****
  • Posts: 392
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly


Shelles

  • Member
  • Posts: 582
Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

isabelt_18

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Many hobbies and leisure activities have some risk of health-related injuries Many hobbies and leisure activities have some risk of health-related injuries
A normal pregnancy. A normal pregnancy.
Pulmonary function test: spirometry. (a) Normal respiratory volumes, as measured during spirometry. Pulmonary function test: spirometry. (a) Normal respiratory volumes, as measured during spirometry.
p53 (normal cell vs tumor cell) p53 (normal cell vs tumor cell)
Dose-response curve with threshold Dose-response curve with threshold
Politics, Power and the Common Good: An Introduction to Political Science, 5/E Politics, Power and the Common Good: An Introduction to Political Science, 5/E
Video: Bone Growth and Remodeling

For a complete list of videos, visit our video library