Use labor-leisure model to illustrate graphically

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For each group identified in bold type below, use labor-leisure model to illustrate graphically and then explain the change in the quantity of leisure (and labor) desired. Be sure to explain how the group’s labor force participation rate is affected.

a. The earnings of married men have decreased, thereby reducing non-wage incomes of married women.

b. Real wage rates for women have increased and the substitution effect for women is stronger than the income effect.

c. Real wage rates for men with high-earnings have increased. Further, the income effect dominates.

d. Over time, married women have exhibited a stronger preference for market work over other non-market uses of time.

e. Over time, the Social Security Administration has increased benefits and widened coverage for older citizens.

Reference no: EM131246426

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