Which of the following pairs of goods would be expected to have a positive cross-price elasticity of demand?
A) coffee and tea.
B) gasoline and large SUVs.
C) tennis racquets and tennis balls.
D) hot dogs and hot dog buns.
A
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The bursting of the __________ market was largely responsible for setting off the Great Recession.
Fill in the blank(s) with the appropriate word(s).
Why might private investment in poor countries, rather than aid by foreign governments and international agencies, contribute more effectively to economic growth?
A) Private investment is more consistent with central economic planning. B) Technical assistance is often part of the private investment package. C) Private investment is always selfish. D) Private investors are smarter and more street-wise than public authorities.
All of the following are reasons a government might choose to protect monopoly rights in an industry except:
A. because it is in the public's interest to do so. B. to benefit insiders. C. to encourage innovation. D. to increase consumer surplus beyond what is achieved through competition.
Which markets are represented in the simple circular-flow diagram?
a. markets for goods and services and markets for financial assets b. markets for factors of production and markets for financial assets c. markets for goods and services and markets for factors of production d. markets for goods and services and markets for imports and exports