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If Chad's Labor-Supply Curve Is Upward-Sloping, Then, for Chad

Question 334

Multiple Choice

If Chad's labor-supply curve is upward-sloping, then, for Chad,


A) an increase in the wage creates an income effect that is greater than the substitution effect.
B) an increase in the wage creates a substitution effect that is greater than the income effect.
C) leisure and consumption are perfect substitutes.
D) leisure and consumption are perfect complements.

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