Which of the following would most likely be considered complements?
A) butter and margarine
B) rental cars and taxis
C) plastic wrap and aluminum foil
D) tennis rackets and tennis balls
Answer: D
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Assume a simplified banking system subject to a 20 percent required reserve ratio. If there is an initial increase in excess reserves of $100,000, the money supply
A. increases $100,000. B. increases $500,000. C. increases $600,000. D. decreases $500,000.
Beef and leather belts are complements in production. If people's concern about health shifts the demand curve for beef leftward, the result in the market for leather belts will be a
A) lower equilibrium price for a leather belt because there is an increase in the supply of leather belts. B) lower equilibrium price for a leather belt because there is a decrease in the supply of leather belts. C) higher equilibrium price for a leather belt because there is a decrease in the supply of leather belts. D) higher equilibrium price for a leather belt because there is an increase in the supply of leather belts.
If the coupon payment on a bond is $350 and the coupon rate is 7%, then what is the face value of the bond?
A. $5,000 B. $374.50 C. $24.50 D. $528.57 E. There is not enough information provided to answer this question.
In general, perfectly competitive firms maximize their profit by producing the level of output at which:
A. total cost is minimized. B. average cost equals price. C. marginal cost equals price. D. average cost is minimized.