Problem
Imagine that a wealthy relative dies and leaves you an inheritance in a trust fund that will provide you with $20,000 per year for the rest of your life. Draw a diagram to illustrate this shift in your budget constraint between leisure and consumption. After considering the ideas of income and substitution effects, decide whether this inheritance will cause you to work more or less.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.