This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: As the income of an individual increases, he can afford more leisure. This refers to the ________ of ... (Read 46 times)

bb

  • Hero Member
  • *****
  • Posts: 544
on: Jun 29, 2018
As the income of an individual increases, he can afford more leisure. This refers to the ________ of a wage increase.
 
  A) income effect
  B) substitution effect
  C) transformation effect
  D) opportunity cost effect

Question 2

People seldom break a line while waiting for checkout in a supermarket. This is an example of a ________ to solve an externality.
 
  A) Coasian approach
  B) Pigouvian approach
  C) command and control mechanism
  D) social enforcement mechanism


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

patma1981

  • Sr. Member
  • ****
  • Posts: 292
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


bb

  • Hero Member
  • *****
  • Posts: 544
Reply #2 on: Jun 29, 2018
Thank you


patma1981

  • Sr. Member
  • ****
  • Posts: 292
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Acromegaly in one individual from a pair of identical twins. Acromegaly in one individual from a pair of identical twins.
An individual's performance can be limited by environmental conditions, such as temperature. Ac An individual's performance can be limited by environmental conditions, such as temperature. Ac
The Inverted Income Pyramid: The Proportion of Income Received by Each Fifth of the U.S. Population The Inverted Income Pyramid: The Proportion of Income Received by Each Fifth of the U.S. Population
How an Increase in Income Inequality Affects the Desired Tax Rate How an Increase in Income Inequality Affects the Desired Tax Rate
Saving Rate by Decile of Income per Capita Saving Rate by Decile of Income per Capita
Overweight individual with acanthosis nigricans Overweight individual with acanthosis nigricans
Video: Facilitated Diffusion - Glucose transport

For a complete list of videos, visit our video library