When People Get Married and Have Children, Particularly If They

question 172

Multiple Choice

When people get married and have children, particularly if they are male:

• A) extrinsic rewards (such as salary) become more crucial to work satisfaction.
• B) intrinsic rewards (such as having a flow-inducing job) become more crucial to work satisfaction.
• C) the forces that determine work satisfaction don't change.
• D) predictions are impossible, as it depends on whether a spouse works.

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Definitions:

Total Utility

The overall satisfaction or value a consumer derives from consuming a certain amount or quantity of goods and services.

Marginal Benefit

The maximum price a consumer will be willing to pay for an additional unit of a product. It is the dollar value of the consumer’s marginal utility from the additional unit, and therefore it falls as consumption increases.

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen over others.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.