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Exhibit 12-3 in Exhibit 12-3, Which of the Following

Question 64

Multiple Choice

Exhibit 12-3 Exhibit 12-3 In Exhibit 12-3, which of the following is true when the wage rate increases from $9 to $11? A) The substitution effect will cause the person to work more hours. B) The income effect will cause the person to work more hours. C) The substitution effect will cause the person to work fewer hours. D) The income effect will cause the person to work the same number of hours. E) The substitution effect will cause the person to work the same number of hours. In Exhibit 12-3, which of the following is true when the wage rate increases from $9 to $11?


A) The substitution effect will cause the person to work more hours.
B) The income effect will cause the person to work more hours.
C) The substitution effect will cause the person to work fewer hours.
D) The income effect will cause the person to work the same number of hours.
E) The substitution effect will cause the person to work the same number of hours.

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