It is likely that for most people:
A. coffee and non-dairy creamer are substitutes.
B. coffee and tea are substitutes.
C. coffee and coffee mugs are substitutes.
D. coffee and Coke are complements.
Answer: B
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Beginning in 2008, The Federal Reserve and the U.S. Treasury Department responded to the financial crisis by intervening in financial markets in unprecedented ways. Briefly summarize the actions of the Fed and Treasury
What will be an ideal response?
Goods that are produced domestically and then sold in other countries are called
A) exports. B) imports. C) tariffs. D) quotas.
The larger the marginal propensity to save, other things constant, _____
a. the larger the marginal propensity to consume b. the larger the multiplier c. the flatter the consumption function d. the flatter the saving function e. the steeper the consumption function
Compared to those with lower incomes, families with higher incomes are more likely to be headed by a
a. person age 65 years and older. b. husband and wife team with one but not the other in the labor force. c. single-parent. d. college graduate.