When Linda Saw the Ad for the New and Improved

question 117

Multiple Choice

When Linda saw the ad for the new and improved Swiffer mop, she rushed out and bought one. She can be considered to have the trait of:

• A) innovativeness.
• B) materialism.
• C) self-consciousness.
• D) need for cognition.

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Definitions:

Net Supplier

An entity that provides more of a good or service to the market than it consumes from it.

Normal Good

A category of product that sees a rise in demand as the consumer's income grows, indicating a direct correlation between income levels and demand.

Backward-Bending

Refers to the backward-bending supply curve of labor, indicating that beyond a certain wage level, labor supply decreases as income and substitution effects impact workers' willingness to work.

Endowed

Provided or supplied with a particular talent, quality, or asset.