Multiple Choice
If Jeff's wage rate rises,he decides to work more hours.From this,we can infer that
A) for Jeff, the substitution effect is greater than the income effect.
B) for Jeff, the substitution effect is equal to the income effect.
C) for Jeff, the substitution effect is less than the income effect.
D) Jeff is confused.
Correct Answer:
Verified
Correct Answer:
Verified
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