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Questions and Answers
What is the effect of an increase in the wage rate on labour supply according to the income-leisure model?
What is the effect of an increase in the wage rate on labour supply according to the income-leisure model?
- It has no effect on labour supply.
- It always leads to a decrease in labour supply.
- It always leads to an increase in labour supply.
- It has an ambiguous effect on labour supply. (correct)
Which type of income maintenance program is most likely to provide a work incentive?
Which type of income maintenance program is most likely to provide a work incentive?
- Social assistance
- Unemployment insurance
- Demogrant
- Wage subsidy (correct)
What is the main challenge in estimating the effects of a program on individual behaviour?
What is the main challenge in estimating the effects of a program on individual behaviour?
- Data collection
- Program implementation
- Identifying causal relationships (correct)
- Survey design
What is the primary goal of childcare subsidies?
What is the primary goal of childcare subsidies?
How does the labour force participation decision fit into the general theory of labour supply?
How does the labour force participation decision fit into the general theory of labour supply?
What is the purpose of worker's compensation programs?
What is the purpose of worker's compensation programs?
What is the term used to describe the maximum amount of income and leisure an individual can attain given the income constraint?
What is the term used to describe the maximum amount of income and leisure an individual can attain given the income constraint?
What is the effect of an increase in non-labour income on labour supply?
What is the effect of an increase in non-labour income on labour supply?
What determines the willingness to exchange leisure for consumption or income?
What determines the willingness to exchange leisure for consumption or income?
What is the net effect of a wage increase on labour supply participation?
What is the net effect of a wage increase on labour supply participation?
What is the classification of leisure when an increase in income leads to an increase in leisure consumption?
What is the classification of leisure when an increase in income leads to an increase in leisure consumption?
What is the main assumption made in the basic income-leisure model?
What is the main assumption made in the basic income-leisure model?
What is a key characteristic of an individual who is considered unemployed?
What is a key characteristic of an individual who is considered unemployed?
What is the main goal of designing welfare programs with minimal adverse work incentives?
What is the main goal of designing welfare programs with minimal adverse work incentives?
What is the labour force participation rate (LFPR) a measure of?
What is the labour force participation rate (LFPR) a measure of?
What is the purpose of overtime premiums?
What is the purpose of overtime premiums?
What is a potential issue with unemployment insurance?
What is a potential issue with unemployment insurance?
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