Linesha, a University Student Working Part-Time, Receives a Wage Increase

question 76

Multiple Choice

Linesha, a university student working part-time, receives a wage increase.An avid movie buff, she increased her purchases of Blu-ray discs and reduced her purchases of DVDs.Based on this information,

• A)DVDs and Blu-ray discs are substitutes.
• B)Blu-ray discs are normal goods and DVDs are inferior goods.
• C)DVDs and Blu-ray discs are normal goods.
• D)the cross-price elasticity between DVDs and Blu-ray discs is negative.

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Definitions:

Welfare State

A social system in which the government takes responsibility for the welfare of its citizens, providing services such as healthcare, education, and financial support.

Robert Mcnamara

A prominent figure in U.S. history who served as the Secretary of Defense during the Vietnam War and later as the President of the World Bank.

Vietnam War

A prolonged conflict from 1955 to 1975 between communist forces in North Vietnam, backed by its communist allies, and the government of South Vietnam, supported by the United States and other anti-communist nations.

War Powers Act

Law passed in 1973, reflecting growing opposition to American involvement in the Vietnam War; required congressional approval before the president sent troops abroad.