Reliant assets are always all of the following except:
a. durable
b. have substantially less value in second best use
c. dependent on unique complementary inputs
d. pivotal in designing strategy
c
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If the cross elasticity of demand is negative, that means the goods
A) have elastic demands. B) have inelastic demands. C) are complements. D) are substitutes. E) are inferior.
When two nations agree to lower their tariffs against each other, they engage in
a. a customs union b. a free trade union c. geographical specialization d. a reciprocal agreement e. a comparative advantage
Elasticity differs from the slope as a measure of responsiveness to changes in prices because:
A. elasticity changes depending on the currency prices are measured in, but this does not affect the slope. B. percentage changes do not depend on the units of measurement, whereas the slope does. C. elasticity is only useful for describing demand, but the slope is useful for describing demand and supply. D. the slope is always negative, while elasticity is not.
What portion of government consumptions expenditures on nondefense goods and services is carried out by state and local governments?
A. About 67% B. Over 80% C. About 50% D. Under 30%