People demand more of product X when the price of product Y decreases. This means X and Y are:
a. Substitutes
b. Complements
c. Both inexpensive
d. Not related
b. Complements
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If the demand for oranges falls, as a result, it is highly likely that the demand for:
A. orange juice will fall. B. orange grove workers will fall. C. apples will increase. D. apple orchard workers will decrease.
The market system communicates changes in market conditions and elicits appropriate responses from businesses and resource suppliers through changes in prices. This is known as the:
A. Guiding function of prices B. Monetary function of prices C. Circular flow of income D. Market determination of prices
A ________ is owned by its stockholders
A) sole proprietorship B) partnership C) corporation D) All of the above are correct.
The reserve ratio is a bank's reserves as a fraction of its
What will be an ideal response?