Hot dogs and hot dog buns would be expected to have:
A) positive income elasticities of demand with respect to each other.
B) negative income elasticities of demand with respect to each other.
C) a positive cross-price elasticity of demand.
D) a negative cross-price elasticity of demand.
D
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Liquidity
A) is the best available measure of the riskiness of an asset. B) is a characteristic of money, and of no other asset. C) is the ease with which an asset can be exchanged for money. D) was declining for many financial assets during the 1990s.
Assume that the average male wage rate is 20 percent higher than the average female wage rate. One can infer that:
A. customers overvalue male employers, so employers pay males more. B. this is evidence of discrimination because females should be paid the same as males. C. this is evidence of discrimination only if all factors affecting productivity are equal. D. employers undervalue female employees, so they're able to pay them less.