From the economist's point of view
A. needs are objectively undefinable.
B. we all have wants but only very poor people have needs.
C. a want is a lifesaving necessity.
D. wants and needs are exactly the same.
Answer: A
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In recent years, information technology such as computers and scanners have been a ________ for low-skilled labor and have led to ________ wage rates for low-skilled workers
A) substitute; higher B) substitute; lower C) complement; higher D) complement; lower
Which of the following will not cause a change in demand for crackers?
a. a change in consumers' income b. a change in the price of crackers c. a change in the price of cheese d. a change in the number of cracker-eaters e. a change in consumers' tastes for crackers
An example of a non-pecuniary job characteristic is
a. over-time pay. b. salary. c. an end-of-the-year bonus. d. a comfortable work environment.
Studies of human decision making have found that people are reluctant to change their minds
a. True b. False Indicate whether the statement is true or false