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Author Question: Empirical evidence with respect to the labor supply decision suggests that the substitution effect ... (Read 397 times)

hubes95

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on: Apr 19, 2019

Question 1

Jenny's hourly wage rate was increased from $17 to $21. As a result of the wage increase, Jenny desires to work fewer hours and take more hours of leisure. For Jenny


◦ 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 substitution effect seems to dominate for most people, which means that the aggregate labor supply responds ________ in the wage rate.


◦ negatively to a decrease
◦ negatively to an increase
◦ positively to a decrease
◦ independently from an increase or a decrease
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by hubes95 on Apr 19, 2019

CharlieArnold

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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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XINYUE WANG

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Reply #2 on: Jul 2, 2020
thank you!


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