Which of the Following Are TRUE with Respect to Greener

question 135

Multiple Choice

Which of the following are TRUE with respect to greener packaging?

• A) Sustainable packaging usually lowers producer costs.
• B) Greener packaging is required by the Federal Fair Packaging and Labeling Act.
• C) Consumers are caring less about making greener choices.
• D) All of these alternatives are TRUE.

---

Definitions:

Backward-Bending

Describes a labor supply curve reflecting a situation where higher wages lead to a decrease in labor supplied because individuals opt for leisure over work.

Labor Supply Curve

A graphical representation showing the relationship between the different levels of wages and the quantity of labor workers are willing to supply.

Income Effect

A person’s willingness to give up some income in exchange for more leisure time.

Substitution Effect

If the price of a resource, say labor, goes up, business firms tend to substitute capital or land for some of their now-expensive workers. Also, the substitution of more hours of work for leisure time as the wage rate rises.