Which of the following pairs of goods would be most likely to be substitutes?
A) pasta and pasta sauce
B) olive oil and vegetable oil
C) chips and salsa
D) tires and automobiles
E) all of the above
B
You might also like to view...
According to the J curve, the rapid depreciation in the dollar from 1985 to 1987 caused net exports to
A) rise in the short run and fall in the long run. B) rise in the short run and rise further in the long run. C) fall in the short run and rise in the long run. D) fall in the short run and fall further in the long run.
Suppose a manager of a firm is considering investing in a piece of equipment that will generate $20,000 in future operating profit each year for the next three years. The discount rate is 5 percent and the salvage value of zero. The equipment's current cost is $50,000 and this cost will be financed by the firm. If the tax rate on the firm's profit is 4 percent each year, what is the net present
value of the equipment? A) $4,464 B) $2,286 C) $3,569 D) -$2,581
All of the following conditions must exist for the median-voter theorem to hold except that:
A. candidates win by majority vote. B. the policy being voted on must be uncontroversial. C. there is a single one-dimensional policy question. D. there are only two candidates.
An aggregate supply curve represents the relationship between the:
A. Price level and the buying of real domestic output B. Price level and the production of real domestic output C. Real domestic output bought and the real domestic output sold D. Price level that producers are willing to accept and the price level buyers are willing to pay