You currently work for 40 hours a week at wage rate of £12 an hour. Your free hours are defined as the number of hours not in work, which in this case is 24 hours × 7 days – 40 hours = 128 hours per week. Suppose that you are happy to keep your total weekly income constant. Read the following statements and select the correct one.

Question

Answer

Doubling the wage rate would decrease your working hours by a third.

Answer

If your wage rate increases to £16 an hour, then your free time will increase by 6%.

Answer

To have 12.5% more free time, your wage rate needs to increase by £8.

Answer

A wage cut of 25% leaves you with only 100 hours of free time.

Crowdly

You currently work for 40 hours a week at wage rate of £12 an hour. Your free ho...

Want instant access to all verified answers on learning.monash.edu?