Question
Because consumers treat money as fungible giving them vouchers, no matter how they are labelled, has the same impact on their spending as increasing their
“Because consumers treat money as fungible giving them vouchers, no matter how they are labelled, has the same impact on their spending as increasing their income by an equivalent amount”. Discuss this statement by
(a) Applying relevant intermediate microeconomic theory
(b) Referring to the evidence in the research literature.
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Business Statistics
Authors: Robert A. Donnelly
2nd Edition
0321925122, 978-0321925121
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