In markets, people's decisions are coordinated by A) ...

[jc611]

In markets, people's decisions are coordinated by
 
  A) specialization according to absolute advantage.
  B) changes in property rights.
  C) learning-by-doing.
  D) adjustments in prices.

Question 2

The hourly wage rate is the opportunity cost of one hour of leisure because
 
  A) the person's substitution effect exceeds his or her income effect.
  B) that is what a person gives up to enjoy the hour of leisure time.
  C) the person must work for a living.
  D) the person prefers leisure to work regardless of the wage.

[Jbrasil]

Answer to Question 1

D

Answer to Question 2

B

[jc611]

Thanks for the timely response, appreciate it

[okolip]

Excellent