Refer to figure 4-17. At a price of

Which of the following are the best examples of substitute goods?

a. personal computers and computer software programs b. milk and cookies c. Packard Bell and IBM personal computers d. hot dogs and mustard e. contact lenses and lens cleaning solutions

When taxes alter individual behavior as people attempt to avoid the tax, efficiency

a. losses are probable. b. gains are possible. c. gains are impossible. d. losses are impossible.

Figure 36-6 ? In Figure 36-6, which of the following will cause a movement from equilibrium at point D to equilibrium at point B?

A. An appreciation of the dollar B. A depreciation of the dollar C. A depreciation of the Japanese yen D. An increase in the U.S. price level

There is an excess demand in a market for a product when

A. supply is less than demand. B. the current price is higher than the equilibrium price. C. quantity demanded is less than quantity supplied. D. quantity demanded is greater than quantity supplied.