The First Week of College Is Difficult for Drew Because

question 74

Multiple Choice

The first week of college is difficult for Drew because his girlfriend is attending college in another province. His roommate says, "Don't worry, Drew, you know that absence makes the heart grow fonder." Drew bases his response on the chapter he just completed in his psychology textbook, saying:

• A) "Thanks for reminding me! Research almost always confirms the accuracy of common sense sayings."
• B) "Read this book. It is obvious from psychological research that common sense sayings are seldom accurate when put to the tests of science."
• C) "Common sense sayings often contradict one another. Remember the saying 'Out of sight, out of mind'"?
• D) "That doesn't help much. That saying was derived from empirical research and cannot be applied to everyday life."

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Definitions:

Substitution Effect

The adjustment in consumer behavior because of shifts in the prices of goods relative to each other, causing consumers to choose different goods over previously preferred ones.

Normal Good

A good whose demand increases as consumer income increases, demonstrating how economic well-being influences consumer choices.

Child Tax Credit

A tax benefit offered to families with children, providing a reduction in their tax liability per child.

Labor Supplied

Refers to the total hours of work that workers are willing and able to provide at a given wage rate over a certain period.