Johnny Spends His Day Doing a Variety of Activities; He

Multiple Choice

Johnny spends his day doing a variety of activities; he spends the morning exercising and doing yard work,reads in the afternoon,and hosts a dinner party in the evening.Economists would say his choice to do a variety of activities instead of spending all of his time on one activity illustrates the concept of:

A) tastes and preferences
B) budget constraints
C) diminishing marginal utility
D) income effect