Suppose the demand for X is given by Qxd = 100 - 2PX + 4PY + 10M + 2A, where PX represents the price of good X, PY is the price of good Y, M is income and A is the amount of advertising on good X. Based on this information, we know that good Y is

A. an inferior good.
B. a substitute for good X.
C. a complement for good X.
D. a normal good.


Answer: B

Economics

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The long-run aggregate supply curve:

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Bob deposits $100 in a bank account that pays an annual interest rate of 5 percent. A year later, Bob withdraws his $105 . If deflation was 5 percent during the year the money was deposited, then Bob's purchasing power has not changed

a. True b. False Indicate whether the statement is true or false

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Most economists feel that overly strict financial regulation from 2000 to 2006 contributed to the financial crisis of 2007–2009.

Answer the following statement true (T) or false (F)

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Explain Mundell's four conditions for adopting a single currency

What will be an ideal response?

Economics