Mario Has Just Retired

question 2

Multiple Choice

Mario has just retired. What can he expect to happen to his health as a result of his retirement?

• A) The stress of retirement is likely to make his health worse.
• B) The pleasure from more leisure time is likely to make his health better.
• C) If he stays in the same place after he retires his health will likely remain about the same; if he moves, his health will likely deteriorate.
• D) His health is likely to remain essentially the same.

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Definitions:

Luxury

Products or services viewed as luxurious and not necessary, frequently linked with premium quality and a high cost.

Necessity

A good or service that is essential for survival and basic well-being, often implying inelastic demand with respect to price changes.

Price Elastic Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with a higher elasticity indicating a greater response.

Dental Floss

A thin thread used to remove food and dental plaque from between teeth in areas a toothbrush is unable to reach.