An increase in the wage rate will increase desired hours of work if:
23. An increase in the wage rate will increase desired hours of work if:
a. the income effect and substitution effect cancel one another
b. the income effect dominates the substitution effect
c. the substitution effect dominates the income effect
d. accompanied by an increase in nonwage income
24. Which one of the following would be most likely to shift the labor supply curve to the right?
a. A decrease in the wage rate
b. A change in the indifference map following deterioration of working conditions
c. A change in the indifference map following an improvement in working conditions
d. A significant increase in dividend and interest income
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