When an Economy Shifts Away from Production of Consumer Goods

question 54

Multiple Choice

When an economy shifts away from production of consumer goods and toward production of capital goods,for the average worker this trade-off means

• A) a higher standard of living.
• B) longer work hours.
• C) a lower savings rate (as a percentage of income).
• D) more leisure time.
• E) more disposable income.

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Definitions:

Experimentation

A method of discovering which options or outcomes work best through trial and error or testing.

Nonconforming Behavior

Actions that deviate from societal norms or expectations.

Non-normative Behavior

refers to actions or behaviors that do not conform to the typical or expected standards or norms of a society or community.

Dispositional Characteristics

Refers to traits, temperaments, or personality attributes that are inherent in an individual.