Compare and contrast the theoretical implications

Reference no: EM13180690

Critics of traditional welfare programs often argue that a downside of traditional welfare programs is that when the government gives lower income people money, it causes them to work less. Compare and contrast the theoretical implications on labor supply-both hours of work and labor force participation of:

1) a sudden icnrease in unearned income (such as from winning the lottery), and

2) a traditional welfare program. Assume that leisure is a normal good.

Reference no: EM13180690

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