When there are many goods is that in a barter system
A) transactions costs are minimized.
B) there exists a multiple number of prices for each good.
C) there is only one store of value.
D) exchange of services is impossible.
B
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Generally, the gender pay gap increases as the level of educational attainment
a. increases b. decreases c. neither of the above because it depends on how hard a person works d. neither a nor b because such data are not available
The demand for salt is probably more inelastic at generally prevailing prices than the demand for potatoes because
A) potatoes require salt but salt does not require potatoes. B) salt has long been a favorite target for taxation. C) salt is cheap relative to most users' incomes and has few good substitutes. D) salt will keep longer than potatoes before spoiling. E) there is so much potential salt in the ocean.
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.
Using proper economic terminology, describe why Mexican restaurants often provide chips and salsa for free to their customers