This Morning, Yoriko Dazai Learned That the Price of Clams

question 94

Multiple Choice

This morning, Yoriko Dazai learned that the price of clams had dropped overnight while the price of mussels and her income stayed constant.Assuming that she must maintain the same level of utility, an increase in Yoriko's quantity demanded of clams would be caused by

• A)the income effect
• B)the law of supply
• C)the substitution effect
• D)a perfectly elastic demand curve
• E)clams being an inferior good

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Definitions:

Expectancy Model

A psychological theory that explains motivation as a function of an individual's expectations about their ability to perform tasks and the expected outcomes of those tasks.

Equity Model

A theoretical framework that suggests fairness and equality in relationships or transactions leads to satisfaction and productivity.

Motivator-hygiene

A theory in organizational behavior that suggests employee satisfaction and motivation are influenced by two factors: motivators that lead to job satisfaction and hygiene factors that prevent dissatisfaction.

Two-week Paid Vacation

A standard employee benefit in many organizations, offering a prolonged period of paid time off, typically two weeks, for rest and recreation.