Which are not generally considered to be complementary goods?
a. Beef and chicken
b. Razors and razor blades
c. Gasoline and motor oil
d. Beer and pretzels
Answer: a. Beef and chicken
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Because it is a market economy, in the United States all research and development is done by private business firms
a. True b. False Indicate whether the statement is true or false
Money is used in an economy because: a. goods and services are produced in accordance with demand
b. the exchange of goods for money is less troublesome than barter. c. some goods or services are difficult to provide because of the scarcity of resources. d. some merchants may offer goods for a select clientele.
Which of the following countries offered bailouts for the weaker economies in the European Union during the economic downturn?
A. Spain and Greece B. Germany and France C. France and Spain D. Italy and Germany
If Country A's reserve account is equal to +$300 billion, then:
a. There is an excess demand for Country A's currency in the foreign exchange market that is being met by the central bank selling enough domestic currency to make up the difference. b. There is an excess supply of Country A's currency in the foreign exchange market that is being met by the central bank buying enough domestic currency to make up the difference. c. Country A's reserves account cannot $300 billion. It must equal 0. d. Country A's current account must equal = -$300 billion. e. Country A's current account minus capital account must equal-$300 billion.