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Author Question: Empirical evidence with respect to the labor supply decision suggests that (Read 130 times)

Pea0909berry

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on: Apr 19, 2019

Question 1

Caroline's hourly wage rate was reduced from $22 to $16. As a result of the wage decrease, Caroline desires to work more hours and take fewer hours of leisure. For Caroline


◦ the income effect must be zero.
◦ the substitution effect dominates the income effect.
◦ the income effect dominates the substitution effect.
◦ the substitution effect must equal the income effect.

Question 2

Empirical evidence with respect to the labor supply decision suggests that


◦ the income effect seems to dominate for most people, which means that the aggregate labor supply responds negatively to an increase in the wage rate.
◦ the substitution effect seems to dominate for most people, which means that the aggregate labor supply responds positively to an increase in the wage rate.
◦ the substitution effect seems to dominate for most people, which means that the aggregate labor supply responds negatively to an increase in the wage rate.
◦ the income effect seems to dominate for most people, which means that the aggregate labor supply responds positively to an increase in the wage rate.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by Pea0909berry on Apr 19, 2019

BUTTHOL369

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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.
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Pea0909berry

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

brbarasa

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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