Eric Is a Professor Who Is Paid an Annual Salary

question 112

Multiple Choice

Eric is a professor who is paid an annual salary to teach at a local college.Suppose Eric receives a promotion and an increase in his annual salary.Eric's labor supply curve will be:

• A)upward sloping if the substitution effect is greater than the income effect.
• B)upward sloping if the substitution effect is smaller than the income effect.
• C)downward sloping if the substitution effect is greater than the income effect.
• D)vertical if the substitution effect is greater than the income effect.

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Definitions:

Normal Curve

A bell-shaped curve that represents the distribution of many types of data where most values cluster around a central region.

Heritability

Degree to which the changes in some trait within a population can be considered to be due to genetic influences; the extent to which individual genetic differences affect individual differences in observed behavior; in IQ, proportion of change in IQ within a population that is caused by hereditary factors.

Genetics

The study of heredity and the variation of inherited characteristics.

Emotional Intelligence

The ability to perceive, control, and evaluate emotions in oneself and others, and to use this information to guide one's thinking and actions.