People who grew up in the western part of Aquilonia have an accent distinct from people who grew up in the eastern part of the country. People from the west also receive lower wages than people from the east. From this information alone, we can conclude that it is possible that
a. discrimination against people from the west exists.
b. people from the east receive compensating differentials.
c. people from the west have lower levels of human capital.
d. All of the above could be correct.
d
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Demand sensitivity depends on all of the following except:
a. how low is the price of the good. b. the sensitivity of firms' output to changes in its price. c. the consumer's income. d. the availability and closeness of substitutes. e. the amount of time a consumer has to adjust to price changes.
As the housing market took off in the early 2000s:
A. household debt became positive for the first time since the Great Depression. B. the growth in household debt slowed. C. the growth in household debt accelerated. D. household debt became negative for the first time since the Great Depression.