The cross-price elasticity of demand for coffee and coffee-cream is likely to be
A) greater than zero.
B) less than zero.
C) zero.
D) infinity.
B
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In the Santa Rita mines in Arizona in 1870, Mexican miners received about $12 per month while "American" miners received $70 . Although the wages of both groups tended to rise over time, the gap persisted until at least 1910 . Mexican and American miners did the same work and were equally productive. Economists call this pay differential: a. prejudicial differentials
b. compensating differentials. c. wage discrimination. d. job entry discrimination.
____________ tax is used to provide funds for Social Security and Medicare.
a. Payroll b. Income c. Sales d. Inheritance
The multiplier effect refers to the fact that a change in spending (aggregate demand) will
a. increase the money supply. b. cause prices to rise by some multiple of the initial increase in spending. c. cause nominal output to rise by some multiple of the initial increase in spending. d. reduce prices by some multiple of the increase in spending.
All of the following are barriers to entry except
A. required scale for innovation. B. government deregulation. C. economies of scale. D. economies of being established.