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 49 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?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Streptococci: Individual bacteria that have a rounded shape and have clumped together to form a ... Streptococci: Individual bacteria that have a rounded shape and have clumped together to form a ...
Capital’s Share of Income in a Cross-Section of Countries Capital’s Share of Income in a Cross-Section of Countries
Relationship between Income per Capita and Population Growth Relationship between Income per Capita and Population Growth
Variable and absorption costing, explaining operating-income differences. Variable and absorption costing, explaining operating-income differences.
Construct a Lorenz curve that shows income distribution in this society. Construct a Lorenz curve that shows income distribution in this society.
Beak size in finches during dry years increases because of strong selection Beak size in finches during dry years increases because of strong selection
Video: Inflammatory response Animation

For a complete list of videos, visit our video library