Suppose this worker is currently working 40 hours per week and earning $8 per hour.
Questions 46 and 47 refer to the following diagram
Work
0
40
60
$320
$560
Income
B
46. Suppose this worker is currently working 40 hours per week and earning $8 per hour. Which one of the following would cause a move to point B, and the subsequent increase in work hours to 60? a. The availability of overtime work at $12 per hour
b. The availability of a moonlighting job that pays $6 per hour
c. An increase in the straight-time wage to $9.33 per hour
d. An increase in non-wage income of $240
47. Suppose this worker’s union negotiates an increase in the straight-time wage from $8 to $9.33 per hour with no bonus for overtime. This plan would allow earnings of $560 at 60 hours per week. Assuming this worker can freely choose the number of hours worked, he will choose to work: a. 60 hours per week
b. fewer than 60 hours per week
c. more than 60 hours per week
d. more than 60 hours per week if the income effect dominates; less otherwise
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