Which of the following statements are correct regarding hours of work and income?
Select one or more:
a. An increase in the real wage rate would encourage you to work more as the opportunity cost of leisure becomes higher.
b. An increase in the real wage rate would encourage you to work less as your income from working a given number of hours is now higher than before.
c.The "price" of an hour of free time is the hourly wage rate.
d. From Figure 3.2 (Unit 3.0), we can infer that countries with similar GDP per capita have similar working hours.