Statistical studies in the United States have reached the conclusion that for low-income workers

a. the substitution effect is greater than the income effect.
b. the income effect is greater than the substitution effect.
c. the income effect is about equal to the substitution effect.
d. the substitution effect is of the "wrong" sign.


a

Economics

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Which of the following CANNOT be a source of comparative advantage?

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If the structural stagnation hypothesis is true, what happened to the economy in the early 2000s that made it prone to a financial crisis?

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Involuntary unemployment

A. exists when there is a shortage of labor. B. exists when there is an excess quantity of labor supplied. C. will increase as the wage rate falls. D. occurs when the wage rate is below the equilibrium wage rate.

Economics