« previous next »

Author Question: When the price of broccoli increase relative to cauliflower, people who buy fresh vegetables respond ... (Read 196 times)

bobypop

  • Hero Member
  • *****
  • Posts: 539
on: Jun 30, 2018
When the price of broccoli increase relative to cauliflower, people who buy fresh vegetables respond by buying more cauliflower and fewer broccoli. As a result, the CPI has
 
  A) a quality change bias.
  B) a new price bias.
  C) a commodity substitution bias.
  D) an outlet substitution bias.
  E) a new goods bias.

Question 2

A surplus of labor is eliminated by ________ in the real wage rate and a shortage of labor is eliminated by ________ in the real wage rate.
 
  A) an increase; a decrease
  B) a decrease; an increase
  C) an increase; an increase
  D) a decrease; a decrease
  E) None of the above answers is correct because shortages and surpluses are eliminated by changes in the demand for labor and the supply of labor, not the wage rate.


steff9894

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

When using forearm pressure on the top of the shoulder, push with your back foot to increase your ... When using forearm pressure on the top of the shoulder, push with your back foot to increase your ...
The energy set-point view that is the basis of many people’s thinking about hunger and eating. The energy set-point view that is the basis of many people’s thinking about hunger and eating.
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
Effect of an Increase in Technological Progress Effect of an Increase in Technological Progress
People with normal color vision see the number 29 in the chart; however, those who are color-blind c People with normal color vision see the number 29 in the chart; however, those who are color-blind c
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Video: Mendel's Principles of Dominance, Segregation and Independent Assortment

For a complete list of videos, visit our video library