Can you think of some reasons why the following examples of time bunching and intertemporal substitution might be true? (Yes, you’ll notice that there’s a blurry line between the two.)
a. People who work outside work more when the weather is good.
b. People work when others are also working.
c. Even nonreligious people who don’t give gifts shop more as Christmas time approaches.
d. Food servers at a restaurant prefer to work the dinner shift.
What do all of these examples have to do with the business cycle?