7. Your grandmother gives you $500 per month in cash while you attend college. Which of the following is/ are with respe

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7 Your Grandmother Gives You 500 Per Month In Cash While You Attend College Which Of The Following Is Are With Respe 1 (179.25 KiB) Viewed 28 times

7. Your grandmother gives you $500 per month in cash while you attend college. Which of the following is/ are with respect to the impact on your labor-leisure decisions? a. The $500 will rotate upward your budget constraint, making the slope steeper. b. The $500 will shift outward (and up) your budget constraint, but the slope does not change. c. The $500 triggers a substitution effect that will make you work more. . d. The $500 triggers an income effect that will make you work less.