A consumer might consider in-line skates and elbow-pads to be
A) products with upward sloping demand curves.
B) unrelated goods.
C) complements.
D) substitutes.
C
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Property rights motivate people to work harder and produce more economic pie than they would if property rights were not well defined
Indicate whether the statement is true or false
The wage rate found by the intersection of the market demand and supply curves for labor then determines the
A) firm's demand curve for labor. B) firm's supply curve for labor. C) labor's supply curve of labor. D) labor's demand curve for jobs.
In the short run, consumers typically ____ to price changes (when compared to the long run)
a. are very responsive b. are more demand sensitive c. are less demand sensitive d. do not respond at all e. overreact
Which of the following is an amendment that strengthened the Sherman Antitrust Act?
a. Celler Kefauver Act. b. Clayton Act. c. Robinson-Patman Act. d. Tyler Act.