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Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Existence of which goods is described by rules of consumer choice (indifference function, budget constraint line): Veblen or Giffen?
Answer
Giffen (the inferior ones); Veblen goods like Gucci bags are not described by these rules of consumer choice.

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Existence of which goods is described by rules of consumer choice (indifference function, budget constraint line): Veblen or Giffen?
Answer
?

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Existence of which goods is described by rules of consumer choice (indifference function, budget constraint line): Veblen or Giffen?
Answer
Giffen (the inferior ones); Veblen goods like Gucci bags are not described by these rules of consumer choice.
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pdf

owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p55

Summary

statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Details

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