Asked by
Trixcel Baraoidan
on Oct 26, 2024
Verified
Which statement is TRUE?
A) Leisure is usually a normal good.
B) Leisure is usually an inferior good.
C) All other things unchanged,an increase in income will decrease the demand for leisure.
D) The demand for leisure is perfectly inelastic.
Leisure
free time when individuals are not working, available for relaxation or activities of personal choice.
Normal Good
A good for which demand increases as the income of consumers increases and vice versa.
Demand for Leisure
The desire for free time in which one can enjoy personal activities outside of work.
- Evaluate how changes in pay rates affect the workforce's supply and demand.
Verified Answer
ZD
Learning Objectives
- Evaluate how changes in pay rates affect the workforce's supply and demand.