Test Bank Labour Market Economics 8th Canadian Edition By Dwayne Benjamin A+
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Description
1. Consider figure 2.98 in the textbook. Given a wage increase from W0 to W1, the distance between I' and I1 represents:
A. The substitution effect
B. The income effect
C. The net effect of both the substitution effect and the income effect
D. The equilibrium choice for hours worked
E. The equilibrium choice for leisure
Blooms: Analyze
Difficulty: Medium
Learning Objective: 02-04 Explain, using diagrams, how an increase in the wage rate leads to offsetting income and substitution effects, and how this yields an ambiguous effect of wage changes on labour supply.
Topic: 02-11 Comparative Statics
2. Empirical literature on labour supply patterns for married women tends to find all of the following, except:
A. Labour market participation rate for married women was highest in the 35-44 age group.
B. Women with children have lower rates of labour force participation.
C. The higher the education level, the higher the labour force participation rate.
D. The higher the husband's income, the higher the labour force participation rate.
E. Participation rate for all women is around 76 percent.
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