If a 10 percent increase in the price of tomatoes leads to a 20 percent decrease in quantity demanded, then the price elasticity of demand for tomatoes, , equals -2

Refer to Scenario 15.3. $X would be higher if Ms. Querty's

A) income and the interest rate were higher. B) income and the interest rate were lower. C) income were higher and the interest rate were lower. D) income were lower and the interest rate were higher. E) mortality rate and growth in income were lower.

Which of the following statements about wage setting is true?

A) most workers in the U.S. have their wages set by formal contracts. B) formal contracts play a more important role in Japan and Western Europe than in the United States. C) the minimum wage in the U.S. is about 75% of the average wage. D) all of the above