The amount of time an individual is willing to sell in the labor market varies positively with the value of leisure time.

Question

Quizplus · Accepted Answer

The statement is incorrect. The amount of time an individual is willing to sell in the labor market varies negatively with the value of leisure time. This is because as the value of leisure time increases, an individual is likely to work fewer hours and prefer more leisure time.

The Amount of Time an Individual Is Willing to Sell