A labor supply curve is a tradeoff of
a. labor and hours of work
b. labor and leisure
c. demand and supply
d. labor and capital
What is the shape of the labor supply curve?
a. downward sloping
b. horizontal
c. backward bending
d. always vertical Question
If an individual is in the upward sloping portion of his labor supply, the
a. substitution effect is greater than the income effect
b. substitution effect is less than the income effect
c. substitution effect is equal to the income effect
d. there is only an income effect
