Point out the main differences in job conditions and worker characteristics between the urban formal and informal sectors
What will be an ideal response?
Discussed in the chapter.
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The United States is a major exporter of
a. diamonds b. bauxite c. coffee d. corn e. gold
A tax on the buyers of cameras encourages
a. sellers to supply a smaller quantity at every price. b. buyers to demand a smaller quantity at every price. c. sellers to supply a larger quantity at every price. d. Both a) and b) are correct.
There has been much discussion over whether marijuana should be legalized. Assume that if it becomes legal the price will be cut in half. Given your text estimate of -1.0 price elasticity for marijuana, what would you expect to be the change in marijuana usage?
A. It will double. B. It will not change. C. It will be cut in half. D. It will increase by 50%.
The cross price elasticity of demand for a good x is the percentage change in the quantity demanded of good x in response to a given percentage change in
A) income. B) the price of good x. C) the price of good y. D) the quantity demanded of good y.