A _____ Is the First Wave to Arrive at a Recording

question 21

Multiple Choice

A _____ is the first wave to arrive at a recording station following an earthquake.

• A) Love wave
• B) Rayleigh wave
• C) S-wave
• D) P-wave
• E) surface wave

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Definitions:

Substitution Effect

The change in consumption that results from a change in the price of one good relative to the prices of other goods, holding utility constant.

Income Effect

The change in consumption that results from a change in real income or purchasing power.

Demand Function

A mathematical model that describes the quantity of a good or service demanded at various prices, holding other factors constant.

Substitution Effect

The substitution effect is a concept in economics that describes how consumers change their consumption patterns in response to changes in the prices of goods, opting for cheaper alternatives when prices increase.