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According to economist Gary Becker, children should better be considered as normal goods. Empirical studies show, however, wealthier parents tend to have fewer kids, which
According to economist Gary Becker, children should better be considered as normal goods. Empirical studies show, however, wealthier parents tend to have fewer kids, which suggests children are inferior goods. This is a puzzle because intuitively, children should be normal goods. What were the two arguments made by Becker to resolve this puzzle? and how can you STRONGLY SUPPORT the claim of Gary Becker that children are normal goods? Why are children not to be considered as inferior goods?
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