The income and substitution effects of a change in the wage rate
a. always work in the same direction
b. always work in opposite directions
c. work in opposite directions only if the change is a decrease
d. work in the same direction only if the change is an increase
e. work in the same direction only if the change is a decrease
B
Economics
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A deadweight loss occurs whenever
A) the total benefit of a good does not equal its total cost. B) the marginal social benefit of a good does not equal its marginal social cost. C) there is perfect price discrimination. D) there is no consumer surplus.
Economics
Which of the following is NOT an attempt to evade rent controls?
A) make life unpleasant for tenants B) require tenants to get furniture from the landlord C) subletting D) using the courts to challenge the sublease of a tenant
Economics