Leisure Can Be

question 74

Multiple Choice

Leisure can be:

• A)either a normal good or an inferior good.
• B)only a normal good.
• C)considered to be an inferior good when a parallel outward shift of the budget line leads to an increase in leisure .
• D)considered to be a normal good when a parallel outward shift of the budget line leads to a decrease in leisure.

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Definitions:

Depreciation Expense

An accounting method that allocates the cost of a tangible asset over its useful life, reflecting the use and wear and tear of the asset.

Units-of-production

A method of depreciation that assigns an asset's cost based on its usage, activities, or output, instead of the passage of time.

Depreciation Expense

Depreciation Expense denotes the allocation of an asset's cost over its useful life, reflecting the asset's consumption or decline in value.

Straight-line

A method of depreciation that allocates an equal expense amount to each period over the useful life of an asset.