Commodity products are
a. pasteurized
b. bland
c. perceived by consumers to be identical
d. made by one manufacturer
e. made by hand
C
Economics
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If leisure is a normal good, then the income effect of a decrease in wage will
A) decrease the number of hours worked. B) increase the number of hours worked. C) decrease the number of leisure hours. D) increase the sum of leisure plus hours worked.
Economics
A Swiss consumer wants to buy an American laptop. The exchange rate is 1USD=0.89CHF (Swiss Francs). The laptop costs $800 . How much would the laptop cost him in Swiss Francs?
a. 1200 Francs b. 1160Francs c. 890Francs d. 712 Francs
Economics