Question: help 1 points QUESTION 11 Which statement is TRUE in the standard model of labor supply? a If the substitution effect dominates the income effect,

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1 points QUESTION 11 Which statement is TRUE in the standard model of labor supply? a If the substitution effect dominates the income effect, higher wages lead to an increase in the quantity of labor supplied. b. If the income effect dominates the substitution effect, higher wages lead to a reduction in the quantity of labor supplied. c. Higher wages always lead to an increase in the quantity of labor supplied. d Higher wages always lead to a reduction in the quantity of labor supplied. 1 points QUESTION 12 Suppose that a tax is levied on wages and a worker does not change the number of hours she works. Which of the following statements is TRUE? O a. The income effect exceeds the substitution effect. Ob. The income effect is equal to substitution effect. O c. There is no income effect. Od. The substitution effect exceeds the income effect

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