Which of the following products are likely to be complementary goods?
A. Coke and Pepsi
B. mobile devices and litium batteries
C. Domino's pizza and Papa John's pizza
D. HD-DVDs and Blu-Ray DVDs
Answer: B
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If consumption is defined as C = 4,500 + 0.75Y, then the marginal propensity to save is 0.25
Indicate whether the statement is true or false
During the twentieth century, the largest budget deficits as a percentage of GDP occurred
A) during the 1980s. B) during the Vietnam war. C) during the 1990s. D) during World Wars I and II.
Ames and Rosenberg (1963) argue that demand for manufactured goods in the U.S. tended to be utilitarian in nature rather than "high quality," and this encouraged development of mass production methods
Indicate whether the statement is true or false
A prominent argument against the use of price ceilings is:
A. they lead to a surplus and a waste of society's resources. B. they are unfair. C. they raise corporate profits. D. they lead to rent seeking.