If soft drink brands are close substitutes for each other, this implies that the price elasticity for individual brands would be low.

Which of the following working conditions are common at sweatshops?

A. a lack of guards on sewing and cutting machines. B. restricted bathroom break times. C. blocked aisles and fire exits. D. All of the answers are correct.

The type of inflation that is a greater problem to society is

a. unanticipated inflation, since it has some costs associated with it, such as menu costs. b. unanticipated inflation, since it causes greater redistribution of income between those making payments and those awaiting payments in the future. c. anticipated inflation because the purchasing power of the dollar falls very rapidly d. anticipated inflation, since people have to pay taxes on the higher nominal income even though the real income has not changed.