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Income-Leisure Framework Question
Choosing our hours of work is a luxury that not everyone has access too. Consider the situations where individuals can only choose between a full time job (40h/week), a part-time job (20h/week) or not working at all. Does this restriction impact the decision of a family to have a second parent work?
Noting that in the case that both parents work a family must also pay for child care expenses, use the income-leisure framework to illustrate an example where the parent would work if there were no hour restrictions but opts to not work because of them. Clear note all of your assumptions and notation. Explain.
This document contains various important questions and their appropriate answers in the subject field of Economics.
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