Question

2. Why would there be a kink in the budget constraint?

a. The person dislikes working, so they value non-market time more.

b. The person has some source of income that comes without working.

c. The person is lazy.

d. There is no way to have a kink in the budget constraint.

3. What point represents the production of this person?

4. What affects reservation wages?

a. Laziness

b. Non labor income

c. Young children

d. All of the above

5. Why Marry? The traditional view of the family involved specialization. While now, people engage in hedonic marriages, where same interests and passion are more prevalent. In the traditional view, there are , while in the current view, there are complementarities.

a. Productive complementarities, Consumption complementarities

b. Consumption complementarities, Productive complementarities

c. Production complementarities, Dynamic complementarities

d. Dynamic complementarities, Production complementarities

Answer 1