Ach scenario, decide whether the income effect or the substitution effect dominates for each individual's labor supply decision. After Ashley, a bank teller, is given a raise, she decides to work more hours. Vlad delivers pizzas and decides to reduce his hours after the company increases his wage. Veronica is a secretary at a small, struggling business. Managers decide to reduce her wage and she decides to work fewer hours. Edmond works at a restaurant and on some days is a shift manager and on other days is a server. He makes more money as a server. After the restaurant tells him they only need him to work as a shift manager, he asks to have his hours increased.

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

Attend and participate in fall prevention training. just took quiz.