Question: How do increases in wealth and increases in wage rate differ from each other? They don't differ from each other. An increase in wealth and

How do increases in wealth and increases in wage rate differ from each other? They don't differ from each other. An increase in wealth and an increase in the wage rate both shift the labor supply curve to the right. An increase in wealth is a movement along the labor supply curve, and an increase in wage rate shifts the labor supply curve. An increase in wealth does not generally affect the labor supply curve while an increase in the wage rate will shift it. An increase in wealth shifts the labor supply curve and an increase in wage rate is a movement along the labor supply curve

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