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Test Bank for Labor Economics Chapter 6 9th Edition by George Borjas $10.49   Add to cart

Exam (elaborations)

Test Bank for Labor Economics Chapter 6 9th Edition by George Borjas

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  • Course
  • Labor Economics
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  • Labor Economics

Test Bank for Labor Economics Chapter 6 9th Edition by George Borjas

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  • August 7, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • labor economics
  • Labor Economics
  • Labor Economics
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AllLegitExams
Labor Economics Chapter 6

What Decision to participate in the labor force has to be made? - ANSTo work or not to work

Any time not spent working is called what? - ANSleisure time

What is the Labor Force Participation Rate? - ANSLabor force divided by Population over 16
years old

The Overall participation has been increasing ________ ______. - ANSover time

Participation for men has been - ANSFalling

Participation for women has been - ANSIncreasing

Men starting careers - ANSlate and ending early

Over this century, hours of work have _________ ________, this is Sign of more ?
. - ANSdramatically fallen, leisure valued than work

The labor supply theory help - ANSunderstand the decision to work

Decision to work is a choice between _____ and _________ for pay. - ANSleisure , working

Demand for leisure is the ________ of _________ of ________ - ANSreverse , supply , labor

Leisure up - ANSincome effect stronger.

Leisure down - ANSsubstitution effect stronger.

same leisure - ANSequal to each other.

Wages up we substitute - ANSSubstitute away from higher price leisure. 9substitution effect)
labor is up.

wages down we substitute - ANSLeisure up, labor down, substitutes towards lower priced
leisure. (substitution effect)

wages down income - ANSleisure down and labor up.( income effect)

wages up income - ANSconsume more leisure and less labor. 9Income effect)

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