Which Does Not Cause the Continental Effect

question 5

Multiple Choice

Which does not cause the continental effect?

• A)the specific heat of water
• B)condensation of water
• C)mixing of water
• D)transparency of water

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Definitions:

Income Effect

Variations in the income levels of individuals or economies and the resultant effects on the demand for goods or services.

Substitution Effect

The economic understanding that as prices rise or incomes decrease consumers will replace more expensive items with less costly alternatives.

Hourly Wages

The amount of earnings paid to an employee for each hour worked.

Fringe Benefits

Additional benefits, beyond a salary, offered to employees, such as health insurance, retirement plans, and paid time off.