Sammy is required by her employer to work a standard eight-hour workday.

Sammy is required by her employer to work a standard eight-hour workday.

42. Sammy is required by her employer to work a standard eight-hour workday. Suppose her marginal rate of substitution of leisure for income exceeds the wage rate at this level of work effort. We can conclude that Sammy will: a. feel underemployed

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b. desire to find a second job c feel overemployed

d. desire to work voluntary overtime

43. Compared to workers with less education, people who have more education tend to earn higher wages and have higher pensions upon retirement. Given this observation, which of the following statements best explains why those persons with more education also retire at a later age?

a. If tastes for leisure are the same, the effect of the higher pension must outweigh the effects of the higher wages

b. If tastes for leisure are the same, the effects of the higher wages must outweigh the effects of the higher pensions

c. Since higher wages and pensions both suggest a lower retirement age, those with more education must value leisure less

d. Regardless of the tastes for leisure, the higher wages and pensions would both suggest a higher retirement age

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