If a worker faces the following situation, then calculate the amount of leisure: Wage = $30 T = Maximum hours of work = 24 Yn = Non Labour Income = $60 U = IL a. 11 O b. 9 C. 13 d. 15

O A. II, Guaranteed Basic Income OB. IV, Wage Subsidy OC. II, Guaranteed Basic Income O D. II, Earned Income Tax Credit

Consider an individual who must drive to his place of work. Assume that there are 16 available hours in the day, that his wage rate is $20 per hour, and that he has nonlabour income of $100 per day. The commute takes one hour each day and it costs $40 in expenses for the round trip. Using a work-eisure diagram, depict his labour supply choice, including his reservation wage. Analyze the impact of an increase in commuting costs on his participation and hours decision. Analyze the impact, first of an increase in commuting time from two to four hours per day, and, second, of an increase in driving expenses from $40 to $60 per round trip, keeing commuting time at two hours. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

1. Suppose that currently the government provides everyone with a guaranteed income of $10,000 per year, but this benefit level is reduced by $1 for each $1 of work income. The government is considering changing this policy so that the benefit level is reduced by $1 for every $2 of work income. What effect would this policy have on work effort? Explain your answer and include a graph depicting the two scenarios.

Suppose a worker is offered a wage of AED10 per hour, plus a fixed payment of AED20. What is the equation for the worker’s opportunity set in a given 24-hour day? What are the maximum total earnings the worker can earn in a day? The minimum?

ASAP pls Discuss the possible substitution effect and the income effect of an increase in income on leisure time..

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