Online music streaming services, such as Spotify, have decimated the market for CDs. Based on this information, you can conclude that streaming services:
A. and CDs are complementary goods.
B. has a higher price elasticity than CDs.
C. and CDs are substitutes.
D. has a higher income elasticity than CDs.
Answer: C
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If the price of tickets to Disney World increases 10 percent, and as a result, attendance falls by 15 percent, the demand for the tickets is
a. elastic. b. inelastic. c. of unitary elasticity. d. indeterminate.
An increase in the government budget deficit shifts the supply of domestic currency in the market for foreign exchange to the right
a. True b. False Indicate whether the statement is true or false
The tax brackets in a particular year are 10% on earnings up to $50,000, 20% on earnings from $50,001 to $100,000, 30% on earnings from $100,001 to $150,000, and 40% on earnings over $150,000. If Noelle earns $200,000 this year, what is her total tax?
a. $50,000 b. $65,000 c. $80,000 d. $81,000
Gross public debt minus all government interagency borrowing is
A. an entitlement. B. net public debt. C. the money supply. D. U.S. Treasury bonds.