ECO200Y1 Final: ECO200Y1 Final Exam 2016 Summer
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ECO200Y1 Full Course Notes
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This exam is out of 125 marks; to be converted to a percentage score. All answers are to be written on this examination paper. Show your work clearly in all your answers (except mc questions). Total marks = 20: multiple choice (20 marks) Provide the best solution to the following mc questions by circling your answer directly on this exam paper. In the labour market model, with leisure as a normal good, the income effect and the. Substitution effect of a change in the wage rate operate in opposite directions: the government is considering two options of support to a consumer: #1. A non-fungible voucher (i. e. , coupon) worth the same dollar amount, which can be used only for the purchase of a particular good. The consumer has an indifference map that shows diminishing marginal rate of substitution (mrsx/y), where x is the supported good.
