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Figure: Davina's Labor Supply Choice
Reference: Ref 19-3
(Figure: Davina's Labor Supply Choice) The figure Davina's Labor Supply Choice
shows Davina's time allocation budget line when her hourly wage is $10 or $15 and
she has 80 hours to allocate between labor and leisure; it also shows two of her
indifference curves for income and leisure. Davina's labor supply curve is ________
as her hourly wage rises from $10 to $15.
30. Multiple Choice: Figure: Davina's Labor Supply Choice ...
Question
Points: 0
Figure: Davina's Labor Supply Choice
Reference: Ref 19-3
(Figure: Davina's Labor Supply Choice) The figure Davina's Labor Supply Choice
shows Davina's time allocation budget line when her hourly wage is $10 or $15 and
she has 80 hours to allocate between labor and leisure; it also shows two of her
indifference curves for income and leisure. As Davina's hourly wage rises from $10
to $15:
31. Multiple Choice: Figure: Rita's Time Allocation Budget...
Question
Points: 0
Figure: Rita's Time Allocation Budget Line
Reference: Ref 19-4
(Figure: Rita's Time Allocation Budget Line) Look at the figure Rita's Time
Allocation Budget Line. It is based on 80 hours available for labor and leisure. Her
hourly wage is:
32. Multiple Choice: Figure: Rita's Time Allocation Budget...
Question
Points: 0
Figure: Rita's Time Allocation Budget Line
Reference: Ref 19-4
(Figure: Rita's Time Allocation Budget Line) Look at the figure Rita's Time
Allocation Budget Line. It is based on 80 hours available for labor and leisure. If her
hourly wage doubles, the vertical intercept will be:
33. Multiple Choice: Figure: Rita's Time Allocation Budget...
Question
Points: 0
Figure: Rita's Time Allocation Budget Line
Reference: Ref 19-4
(Figure: Rita's Time Allocation Budget Line) Look at the figure Rita's Time
Allocation Budget Line. It is based on 80 hours available for labor and leisure. If her
hourly wage doubles, which of the following combinations of leisure and labor will
be a point on the new time allocation budget line?
34. Multiple Choice: Figure: Rita's Time Allocation Budget...
Question
Points: 0
Figure: Rita's Time Allocation Budget Line
Reference: Ref 19-4
(Figure: Rita's Time Allocation Budget Line) Look at the figure Rita's Time
Allocation Budget Line. It is based on 80 hours available for labor and leisure. Rita
chooses 40 hours of leisure and income of $280. When her hourly wage doubles,
Rita chooses 30 hours of leisure and income of $700. The substitution effect is
making her work ________, the income effect is making her work ________, and
the substitution effect is ________ than the income effect.
35. Multiple Choice: Figure: Rita's Time Allocation Budget...
Question
Points: 0
Figure: Rita's Time Allocation Budget Line
Reference: Ref 19-4
(Figure: Rita's Time Allocation Budget Line) Look at the figure Rita's Time
Allocation Budget Line. It is based on 80 hours available for labor and leisure. Rita
chooses 40 hours of leisure and income of $280. When her hourly wage doubles,
Rita chooses 50 hours of leisure and income of $420. The substitution effect is
making her work ________, the income effect is making her work ________, and
the substitution effect is ________ than the income effect.
36. Multiple Choice: Alex's wage rate falls. Holding every...
Question Alex's wage rate falls. Holding everything else constant, this will cause Alex's time
allocation budget line to:
Points: 0
37. Multiple Choice: Figure: Joanna's Time Allocation Budg...
Question Figure: Joanna's Time Allocation Budget Line
Reference: Ref 19-5
(Figure: Joanna's Time Allocation Budget Line) The figure Joanna's Time Allocation
Budget Line depicts what happens when she can choose how to spend 40 hours.
What is Joanna's wage rate?
38. Multiple Choice: Figure: Joanna's Time Allocation Budg...
Question
Points: 0
Points: 0
Figure: Joanna's Time Allocation Budget Line
Reference: Ref 19-5
(Figure: Joanna's Time Allocation Budget Line) The figure Joanna's Time Allocation
Budget Line depicts what happens when she can choose how to spend 40 hours.
What is the opportunity cost of an hour of leisure?
39. Multiple Choice: Figure: Joanna's Time Allocation Budg...
Question
Points: 0
Figure: Joanna's Time Allocation Budget Line
Reference: Ref 19-5
(Figure: Joanna's Time Allocation Budget Line) The figure Joanna's Time Allocation
Budget Line depicts what happens when she can choose how to spend 40 hours. If
Joanna's wage increases and as a result she consumes less leisure, this means
that her supply curve of labor is:
40. Multiple Choice: Figure: Joanna's Time Allocation Budg...
Question
Points: 0
Figure: Joanna's Time Allocation Budget Line
Reference: Ref 19-5
(Figure: Joanna's Time Allocation Budget Line) Joanna's Time Allocation Budget
Line depicts what happens when she can choose how to spend 40 hours. If
Joanna's wage rate increases and she ends up working more hours, this means
that:
41. Multiple Choice: Figure: Joanna's Time Allocation Budg...
Question
Points: 0
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Figure: Joanna's Time Allocation Budget Line
Reference: Ref 19-5
(Figure: Joanna's Time Allocation Budget Line) Joanna's Time Allocation Budget
Line depicts what happens when she can choose how to spend 40 hours. When
Joanna's wage rate increases and she ends up working more hours, this means for
her:
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