If the Cost of Your Gasoline Purchases Decrease from $150

question 87

Multiple Choice

If the cost of your gasoline purchases decrease from $150 per month to $80 over a period of one year due to lower prices and your income decreases from $1,600 per month to $1,500 per month,your nominal income has

• A)Increased,but your real income has decreased.
• B)Decreased,but your real income has increased.
• C)Increased,and your real income has increased.
• D)Increased,but your real income has remained the same.

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Definitions:

Positive Individual Traits

Dispositional qualities that account for why some people are happier and psychologically healthier than others.

Positive Subjective Experiences

The positive but private feelings and thoughts people have about themselves and the events in their lives.

Cognitive Dissonance

A psychological phenomenon where individuals experience mental discomfort due to holding contradictory beliefs, values, or attitudes.

Positive Subjective Experiences

Personal experiences that evoke good feelings, satisfaction, or happiness.