Spouse-Dominant Decision Making Implies That

question 120

Multiple Choice

Spouse-dominant decision making implies that

• A) the husband makes the majority of the purchase decisions.
• B) the wife makes the majority of the purchase decisions.
• C) both the husband and the wife make the purchase decisions together.
• D) the wife and the husband alternate with respect to their purchase decisions.
• E) either the husband or the wife is primarily responsible for purchase decisions.

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Definitions:

Economic Rent

The extra amount earned by a factor of production that exceeds the minimum amount necessary for it to be employed.

Labor Union

An organization formed by workers in the same trade or industry to collectively negotiate wages, benefits, working conditions, and rights.

Deadweight Loss

A cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium.

Labor Market

The supply and demand for labor, where employers seek to hire workers and workers look for jobs.