If the cross price elasticity of demand between two goods is positive, then the two goods are
A) substitutes.
B) complements.
C) independent.
D) unrelated.
A
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A market demand curve reflects the
A) marginal social benefits of consuming a product. B) sum of private and social benefits of consuming a product. C) marginal private benefits of consuming a product. D) external benefits of consuming a product.
Studies indicate that after the Civil War and up to the 1890s, farmers did not benefit from an improvement in their terms of trade between agriculture and manufacturing
However, they did benefit from a decline in transportation charges relative to farm prices. Indicate whether the statement is true or false
Financial intermediaries are best described as:
a. informal institutions that provide funds to the government to manage budget deficits. b. institutions that accept deposits and make loans. c. institutions that control the money supply in the economy. d. institutions that provide financial aid to foreign countries. e. individuals who manage other's investment portfolios.
Indifference curves have a bowed-out shape because of diminishing marginal utilities
a. True b. False Indicate whether the statement is true or false