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Author Question: Consider two lottery winners, Tino who is 65 years old and Sasha who is 32 years old. Which of these ... (Read 31 times)

@Brianna17

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Consider two lottery winners, Tino who is 65 years old and Sasha who is 32 years old. Which of these two would be expected to have the larger income effect, all else equal?
 
  A) Sasha
  B) Tino
  C) Both would have no income effect.
  D) Both would have equal income effects.

Question 2

Newspaper accounts of the U.S. labor market often point out that many people are working more hours than their parents did. What might explain this phenomenon?
 
  A) the substitution effect
  B) the endowment effect
  C) bounded rationality
  D) the income effect


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gasdhashg

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@Brianna17

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Reply 2 on: Jul 1, 2018
Excellent


vickyvicksss

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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