Which of the following pairs of goods is the best example of substitute goods?
a. Borden's milk and Nabisco cookies
b. Goodyear tires and Ford automobiles
c. Exxon gasoline and Ford automobiles
d. McDonald's Big Mac and Wendy's grilled chicken sandwich
e. Dell computers and Microsoft software
D
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Assuming r is the interest rate, to compute the present value of a dollar to be received a year from today, you
A) multiply the dollar by r. B) divide the dollar by (1 - r). C) multiply the dollar by (1 + r). D) divide the dollar by (1 + r).
Describe the four functions of money. Must all money fulfill all four functions?
What will be an ideal response?
Economists have found evidence of a Giffen good when studying the consumption of rice in the Chinese province of Hunan
a. True b. False Indicate whether the statement is true or false
If a profit maximizing monopolist faces a linear demand curve and has zero marginal cost, it will produce where demand elasticity is ________ if it will produce at all.
A. 1 B. elastic C. inelastic D. Information is inadequate to answer the question.