An increase in wealth will usually cause an individual to ________ his supply of labor.

Name: An increase in wealth will usually cause an individual to ________ his supply of labor.
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An increase in wealth will cause an individual to decrease his supply of labor because he can afford to work less and enjoy leisure activities or hire others to do the work for him. This is known as the income effect, where the positive effect of increased wages is offset by the negative effect of decreased need to work.

An Increase in Wealth Will Usually Cause an Individual to ________