Two brands of water, Natural Water and Mountain Water, are close substitutes. If the price of Mountain Water decreases, the fall in price
A) shifts the demand curve for Natural Water rightward.
B) shifts the demand curve for Natural Water leftward.
C) increases the price of Natural Water.
D) increases the demand for Mountain Water.
E) More information is needed to determine if the demand curve for Natural Water shifts rightward or leftward.
B
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Which of the following statements is true of colonies set up in North America?
A) Production was based on defined property rights in the colonies in North America. B) The institutions set up in colonies in North America were mostly extractive. C) The institutions in these colonies were similar to other British colonies established in Jamaica and Barbados. D) Most of the people in these colonies were engaged in industrial production.
The largescale labor migration that occurred during 1870 to 1913 from Europe to America ____ wages in the destination nations and ____ wages in the source nations, thus leading to _____ of wages between the regions.
a. lowered; raised; convergence b. raised; raised; divergence c. lowered; lowered; divergence d. raised; lowered; convergence