Complementary goods are goods:
A. that are consumed jointly.
B. that are consumed in place of one another.
C. for which demand increases when the price of its complementary goods increases.
D. for which demand decreases when the price of its complementary goods decreases.
Answer: A
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International Economists cannot discuss the effects of international trade or recommend changes in government policies toward trade with any confidence unless they know
A) their theory is the best available. B) their theory is internally consistent. C) their theory passes the "reasonable person" legal criteria. D) their theory is good enough to explain the international trade that is actually observed. E) their theory accounts for China's unique position in international trade.
Objective probabilities are based on ________ and ________ frequencies.
A) educated guesses; popular B) educated guesses; relative C) data; popular D) data; relative
Other things remaining the same, if a nation's expected price level rises, the demand to hold money:
a. Falls. b. Rises. c. Does not change.
The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
For Bagel World, ________ is a ________.
A. cheating on the agreement; dominated strategy B. abiding by the agreement; dominant strategy C. abiding by the agreement; dominant strategy when Bagels'R'Us also abides D. cheating on the agreement; dominant strategy