Multiple Choice
If labor supply is increasing in the real wage,then
A) the substitution effect is larger than the income effect.
B) the income effect is larger than the substitution effect.
C) the production function is increasing in labor.
D) the marginal product of labor is decreasing.
Correct Answer:

Verified
Correct Answer:
Verified
Q69: Saying the consumer is rational means<br>A) the
Q70: We use indifference curves because<br>A) households on
Q71: The preferences of the representative consumer over
Q72: In the (consumption,leisure)space,indifference curves as we have
Q73: Two key properties of indifference curves are
Q75: The goal of the representative firm is
Q76: An increase in real dividend income minus
Q77: A good is inferior for a consumer
Q78: We assume leisure is a normal good.
Q79: In the production function,Y = zF(K,N?),total factor