Which of the Following Events Will Likely Make Indifference Curves

question 16

Multiple Choice

Which of the following events will likely make indifference curves (between income on the vertical axis and household time on the horizontal axis) flatter?

• A) New inventions that make it easier to substitute market goods for household time.
• B) Increased valued of time spent at home with children.
• C) An increase in income.
• D) Smaller future wage penalities for staying at home.

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Definitions:

Representation

The act of speaking or acting on behalf of someone or something, often in legal, business, or political contexts.

Performance Potential

The capacity or capability of an individual or system to achieve and maintain high levels of performance, often in a specific context.

Express Warranty

An explicitly stated assurance by a seller that the goods or services offered meet certain quality or performance standards.

Factor

An element or component that contributes to or influences a situation, outcome, or process.