Lecture+07+quiz

Lecture+07+quiz - Econ 100A, fall2010, lecture 7 slide# 2...

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Econ 100A, fall2010, lecture 7 slide# 2 Quiz Question 1: In our model of the labor supply decision, if the “price” of leisure goes up, what happens to the maximum total amount of consumption goods the individual could consume? A. It goes up. B. It goes down. C. It stays the same. Econ 100A, fall2010, lecture 7 slide# 3 Quiz Question 2: In our model of the labor supply decision, if leisure is an inferior good, which of the following will be true. I. The labor-supply curve will be upward sloping. II. The labor supply curve will be downward sloping. III. The income effect from a wage increase will decrease
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This note was uploaded on 02/07/2011 for the course ECON 100A taught by Professor Woroch during the Fall '08 term at Berkeley.

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Lecture+07+quiz - Econ 100A, fall2010, lecture 7 slide# 2...

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