Refer to Figure 14.1. The substitution effect of the wage increase on the amount of hours of leisure is:
A) L1 to L0
B) L1 to L2.
C) L0 to L2.
D) L0 to L1.
E) none of the above
A
Economics
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A. The discount rate. B. Open market operations. C. The reserve requirement. D. Taxes.
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