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Determine whether or not the following statements are true or false. A. A tax cut that...

Determine whether or not the following statements are true or false.

A. A tax cut that raises the after-tax wage rate will most likely result in more hours worked if the substitution effect outweighs the income effect.

B. If the income-consumption curve is upward sloping, then the price consumption curve (as the price of x changes) must be upward sloping too.

C. If the income-consumption curve is a horizontal line, then the cross-price elasticity of demand for good y with respect to the price of good x must be positive.

D. If the Engel curve for good x is vertical, then the law of demand must hold for good x.

E. If the price consumption curve (as the price of x changes) is horizontal, then good y must be a normal good.

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