Imagine that you work for 40 hours per week at the wage rate of £10 an hour. Your free hours are defined as the number of hours not spent in work per week, which in this case is 24 hours x 7 days - 40 hours =T128 hours per week Suppose now that your wage rate has increased by 100%. If you want to keep your total weekly income constant, then: Select one or more: O a. Your total number of hours will fall by 25%. O b. Your total number of hours will fall by 50%. O C. You will work 25 hours per week. O d. Your free time will increase by 25%.
Imagine that you work for 40 hours per week at the wage rate of £10 an hour. Your free hours are defined as the number of hours not spent in work per week, which in this case is 24 hours x 7 days - 40 hours =T128 hours per week Suppose now that your wage rate has increased by 100%. If you want to keep your total weekly income constant, then: Select one or more: O a. Your total number of hours will fall by 25%. O b. Your total number of hours will fall by 50%. O C. You will work 25 hours per week. O d. Your free time will increase by 25%.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Imagine that you work for 40 hours per week at the wage rate of £10 an hour. Your free hours are defined as the number of hours
not spent in work per week, which in this case is
24 hours x 7 days - 40 hours
=T128 hours per week
Suppose now that your wage rate has increased by 100%. If you want to keep your total weekly income constant, then:
Select one or more:
Your total number of hours will fall by 25%.
O a.
O b. Your total number of hours will fall by 50%.
O C. You will work 25 hours per week.
С.
O d. Your free time will increase by 25%.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe8a6f34c-6199-4e45-a690-3a492ff2db75%2F6c601b4c-6676-4cfe-9551-c7169b1e6e6e%2Fqhdrns_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Imagine that you work for 40 hours per week at the wage rate of £10 an hour. Your free hours are defined as the number of hours
not spent in work per week, which in this case is
24 hours x 7 days - 40 hours
=T128 hours per week
Suppose now that your wage rate has increased by 100%. If you want to keep your total weekly income constant, then:
Select one or more:
Your total number of hours will fall by 25%.
O a.
O b. Your total number of hours will fall by 50%.
O C. You will work 25 hours per week.
С.
O d. Your free time will increase by 25%.
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