Information technologies are a ________ for low-skilled labor and a ________ for high-skilled labor. ...

Information technologies are a ________ for low-skilled labor and a ________ for high-skilled labor.
 
  A) substitute; substitute
  B) complement; complement
  C) substitute; complement
  D) complement; substitute

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Ques. 2

List the factors that change supply and shift the supply curve. Tell what happens to supply and the supply curve when there is an increase in the factor.
 
  What will be an ideal response?

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Ques. 3

Water is considered a necessity. So, is the demand for water elastic or inelastic?
 
  What will be an ideal response?

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Ques. 4

Suppose Motorland's government imposes a tax of 1.50 per gallon of gasoline sold. With the tax, when the market is in equilibrium, the deadweight loss is
 
  A) zero.
  B) 37,500 per month.
  C) 150,000 per month.
  D) 75,000 per month.

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Ques. 5

A change in the price level changes the amount of nominal money people demand.
 
  Indicate whether the statement is true or false