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Author Question: In markets, people's decisions are coordinated by A) specialization according to absolute ... (Read 39 times)

jc611

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on: Jun 29, 2018
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.


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Jbrasil

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


jc611

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Reply 2 on: Jun 29, 2018
Excellent

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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