For which of the following workers would the substitution effect be more likely to outweigh the income effect of an increase in wage?
A. Air traffic controller
B. Marketing manager
C. Waitress
D. Dentist
Answer: C
Economics
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Physical destruction of property during the Civil War (1861–1865) occurred on a wide scale in both the North and the South
Indicate whether the statement is true or false
Economics
Even though households do not actually purchase certain items, the government estimates and adds to the consumption component what the household would pay for these items in the marketplace. An example of this type of item is
a. a car that an individual builds from parts of old cars b. food that a farm family grows for themselves c. a pond that a household member digs by hand d. police and fire protection e. a barn that a household builds on their own property
Economics