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Author Question: As the income of an individual increases, he can afford more leisure. This refers to the ________ of ... (Read 55 times)

bb

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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


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patma1981

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

A

Answer to Question 2

D


bb

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Reply #2 on: Jun 29, 2018
Thank you


patma1981

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Reply #3 on: Jun 29, 2018
No problemo


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