When Comparing Themselves to Others, Most People Choose to Compare

question 8

Multiple Choice

When comparing themselves to others, most people choose to compare themselves to people who are ____.

• A) much better than they are
• B) much worse than they are
• C) slightly better than they are
• D) slightly worse than they are

---

Definitions:

Income Effect

The change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.

Manufacturing Wages

The compensation paid to workers involved in the production and assembly processes within manufacturing industries.

Industrial Country

A nation that has a significant level of industrialization, characterized by a high income per capita and diversified economy.

Demand For Labor

The total amount of labor that employers are willing and able to hire at a given wage rate in an economy.