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Please help me with Economics....?

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Please help me with Economics....?

Postby eilis » Wed Mar 28, 2012 11:22 am

Question 1: An example of a transitory change in income is

A. the increase in income that results from a job promotion linked to your education.
B. the increase in income of California orange growers due to an orange-killing frost
in Florida.
C. the annual cost-of-living adjustment to your salary.
D. an increase in income from personal investments.

Question 2) When the income and substitution effects work in opposite directions,

A. it’s possible that the law of demand is violated.
B. the substitution effect is always positive.
C. the income effect is always positive.
D. Giffen goods aren’t possible.

Question 3) In a labor market where employers are cutting wages to control costs, from whose standpoint will the selection be “adverse”?

A. Good workers C. Employers
B. Poor workers D. Consumers

Thanks all you great Answers People!
eilis
 
Posts: 34
Joined: Fri Apr 01, 2011 7:55 am
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