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Psychologists now recognize that all behaviors, whether normal or abnormal, originate from the ____.
Nonlabor Income
Income received from sources other than direct employment or work, such as investments, pensions, or transfer payments.
Substitution Effect
The change in the quantity demanded of a good as consumers switch away from more expensive alternatives.
Income Effect
The change in consumer demand for goods and services induced by a change in consumers' discretionary income.
Labor Supply Curve
A graphical representation that shows the relationship between the wage rate and the quantity of labor workers are willing to supply.
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