A substitute good is one that
a. appeals to a wide spectrum of consumers
b. is used together with another good
c. is exchanged on the black market
d. is produced by the same firm as another good
e. can be used in place of another good, fulfilling the same basic purpose
E
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Mobutu Sese Seko was President of ________
A) Canada B) Zaire C) Cote d'Ivoire D) Tajikistan
When TR is increasing as a monopolist's output increases
A) MR is negative. B) MR is positive. C) MR = 0. D) MR may be positive or negative.
What effect did the decrease in the value of the dollar have on the U.S. trade deficit in the period from 2006 to 2009?
a. It decreased the trade deficit as Americans bought more U.S. capital goods. b. It decreased the trade deficit as foreigners were attracted to the increased value of U.S. products and Americans bought fewer imports. c. It increased the trade deficit as U.S. investors bought more domestic financial assets. d. It increased the trade deficit as Americans bought more imports and foreigners bought fewer U.S. products.
A decrease in the quantity of resources employed in industry X.
What will be an ideal response?