Moreover, if fiscally squeezed local governments are forced to increasingly privatize many functions traditionally performed by unionized public employees, this also will create a tremendous substitution effect.
42.
It said the Bureau of Labor Statistics failed to take quality improvements of products sufficiently into account and also failed to allow for the " substitution effect ."
43.
For added workers to enter the labor market when earning power decreases, the negative income effect must outweigh the positive substitution effect ( Mincer, p . 68 ).
44.
Such a comparison generally means that a higher wage entices people to spend more time working for pay; the substitution effect implies a positively sloped labour supply curve.
45.
He calls it The Substitution Effect, and it shows that a family is going to spend a certain amount on entertainment, whether or not there's an athletic event involved.
46.
The BLS estimates that failure to adjust for this " substitution effect " could result in a 0 . 1 percent to 0 . 2 percent overstatement in inflation.
47.
For this reason, the industry suffers from a " substitution effect " _ if times are tough, consumers substitute a less expensive option until the economy picks up again.
48.
The BLS estimates that failure to adjust for this " substitution effect " could result in an 0 . 1 percent to 0 . 2 percent overstatement in inflation.
49.
The substitution effect is the change in demands resulting from a price change that alters the slope of the budget constraint but leaves the consumer on the same indifference curve.
50.
The Hicksian demand function is also downward sloping, but isolates the substitution effect by supposing the consumer is compensated exactly enough to purchase some bundle on the same indifference curve.
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