Which one of the following regarding to an individual's budget constraint is correct?
The level of non-labour income is higher for a part-time worker than for a full-time worker
The slope of the budget constraint is determined b\ the market wage rate.
The slope of the budget constraint is higher for a full-time worker than for a part-time worker.
The slope of the budget constraint is determined b\ the reservation wage rate
The level of non-labour income determines the intercept of the budget constraint.
In the neo-classical model of labour suppl\, which of the following is alwa\s true?
Over the backward bending portion of the labour suppl\ curve,
For a worker who is deciding how man\ hours of labour to suppl\, all of the following are true