The fact that more women have chosen to work as real wages rise is evidence that, for them:
a. leisure is an inferior good.
b. income and substitution effects of higher real wages work in the same direction.
c. income and substitution effects of higher real wages may work in opposite directions.
d. income and substitution effects may work in opposite directions but that the substitution effect is stronger.
d
Economics
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How are scarcity, choice, and opportunity cost related?
What will be an ideal response?
Economics
Which of the following statements is true?
A) A budget deficit occurs when government expenditures exceed tax receipts during any single year. B) The public debt is the total amount the federal government owes its creditors. C) The public debt is greater than the net public debt. D) b and c E) a, b, and c
Economics