1. Consider a woman who has a positive amount of unearned income, earns the minimum wage...
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1. Consider a woman who has a positive amount of unearned income, earns the minimum wage and chooses to work a positive number of hours for pay in the labour market. a. Illustrate her labour supply decision in an income leisure choice diagram. b. Suppose her unearned income falls. How does this decrease affect the amount of goods that she consumes? Illustrate with a carefully labeled diagram and explain with reference to income and substitution effects. 2. Consider a woman who has a positive amount of unearned income, earns the minimum wage and chooses to work a positive number of hours for pay in the labour market. a. Illustrate her labour supply decision in an income leisure choice diagram. b. Suppose her unearned income falls. How does this decrease affect the amount of leisure that she consumes? Illustrate with a carefully labeled diagram and explain with reference to income and substitution effects. 3. Consider a woman who has a positive amount of unearned income, earns the minimum wage and chooses to work a positive number of hours for pay in the labour market. a. Ilustrate her labour supply decision in an income leisure choice diagram. b. Suppose her unearned income falls. How does this decrease affect the amount of labour she supplies to the market? Illustrate with a carefully labeled diagram and explain with reference to income and substitution effects. 4. Consider a woman who has a positive amount of unearned income, earns the minimum wage and chooses to work a positive number of hours for pay in the labour market. a. Illustrate her labour supply decision in an income leisure choice diagram. b. Suppose the government increases the minimum wage. How does this increase affect the amount of goods that she consumes? Illustrate with a carefully labeled diagram and explain with reference to income and substitution effects. 5. Consider a woman who has a positive amount of unearned income, earns the minimum wage and chooses to work a positive number of hours for pay in the labour market. a. Illustrate her labour supply decision in an income leisure choice diagram. b. Suppose the government increases the minimum wage. How does this increase affect the amount of leisure that she consumes? Illustrate with a carefully labeled diagram and explain with reference to income and substitution effects. 6. Consider a woman who has a positive amount of unearned income, earns the minimum wage and chooses to work a positive number of hours for pay in the labour market. a. Illustrate her labour supply decision in an income leisure choice diagram. b. Suppose the government increases the minimum wage. How does this increase affect the amount of labour she supplies to the market? Illustrate with a carefully labeled diagram and explain with reference to income and substitution effects. 1. Consider a woman who has a positive amount of unearned income, earns the minimum wage and chooses to work a positive number of hours for pay in the labour market. a. Illustrate her labour supply decision in an income leisure choice diagram. b. Suppose her unearned income falls. How does this decrease affect the amount of goods that she consumes? Illustrate with a carefully labeled diagram and explain with reference to income and substitution effects. 2. Consider a woman who has a positive amount of unearned income, earns the minimum wage and chooses to work a positive number of hours for pay in the labour market. a. Illustrate her labour supply decision in an income leisure choice diagram. b. Suppose her unearned income falls. How does this decrease affect the amount of leisure that she consumes? Illustrate with a carefully labeled diagram and explain with reference to income and substitution effects. 3. Consider a woman who has a positive amount of unearned income, earns the minimum wage and chooses to work a positive number of hours for pay in the labour market. a. Ilustrate her labour supply decision in an income leisure choice diagram. b. Suppose her unearned income falls. How does this decrease affect the amount of labour she supplies to the market? Illustrate with a carefully labeled diagram and explain with reference to income and substitution effects. 4. Consider a woman who has a positive amount of unearned income, earns the minimum wage and chooses to work a positive number of hours for pay in the labour market. a. Illustrate her labour supply decision in an income leisure choice diagram. b. Suppose the government increases the minimum wage. How does this increase affect the amount of goods that she consumes? Illustrate with a carefully labeled diagram and explain with reference to income and substitution effects. 5. Consider a woman who has a positive amount of unearned income, earns the minimum wage and chooses to work a positive number of hours for pay in the labour market. a. Illustrate her labour supply decision in an income leisure choice diagram. b. Suppose the government increases the minimum wage. How does this increase affect the amount of leisure that she consumes? Illustrate with a carefully labeled diagram and explain with reference to income and substitution effects. 6. Consider a woman who has a positive amount of unearned income, earns the minimum wage and chooses to work a positive number of hours for pay in the labour market. a. Illustrate her labour supply decision in an income leisure choice diagram. b. Suppose the government increases the minimum wage. How does this increase affect the amount of labour she supplies to the market? Illustrate with a carefully labeled diagram and explain with reference to income and substitution effects.
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Macroeconomics Principles Applications And Tools
ISBN: 9780134089034
7th Edition
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
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