Two products that are usually consumed jointly would be referred to as
a. substitutes.
b. complements.
c. inferior goods.
d. unrelated goods.
b. complements.
You might also like to view...
A legal restriction on the amount of a good that can be imported into a country is known as a
A) voluntary restraint agreement. B) tariff. C) quota. D) Domestic Protection Restraint (DPR).
The practice of securitization of mortgages:
A. pooled high-risk mortgages together, which raised the prices of them to investors. B. allowed investors to profit from the mortgage payments without being exposed to any risk. C. pooled the risk of mortgages, allowing higher risk mortgages to be more safely sold to investors. D. was undertaken by government to guarantee the values of real estate.
In the short run,
a. economic profit is always zero b. economic loss is always zero c. some inputs are fixed d. the number of firms in an industry can vary e. technology is indeterminate
Doctors demand large salaries in part because
a. they are forbidden by U.S. law from receiving economic rent. b. most doctors have backward-bending labor supply curves. c. they participate in the secondary labor market. d. they have made significant investments in human capital.