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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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
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