In Brazil, the income elasticity of demand for dairy is 0.7 and for fruit and vegetables it is 0.5. These elasticities mean that if the income of Brazilians decreases, they will purchase ________ dairy and ________ fruits and vegetables

An example of a U.S. export is

A) diamonds mined in Africa sold to buyers in South America. B) a TV made in China sold to a buyer in Azerbaijan. C) matchbooks made in Mexico sold to a buyer in New Jersey. D) a washing machine made in Indiana sold to a buyer in France. E) pasta made in Italy sold to buyers in Spain.

Explain why wage rates might rise at Joe's Quik-Print Shop if Joe replaces his aging copy machines with state-of-the-art copy machines