Suppose the demand for books goes down when the price of video games goes down. We can say that these two goods are
A. perfect substitutes.
B. unrelated goods.
C. complements.
D. substitutes.
Answer: D
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A) positive economics. B) normative economics. C) microeconomics. D) macroeconomics.
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a. True b. False Indicate whether the statement is true or false
What to produce, how to produce, and for who to produce are the three fundamental economic questions
a. True b. False Indicate whether the statement is true or false
Many believe that fairness calls for higher income taxes on the wealthy. Using one of the "Ideas for Beyond the Final Exam," explain how higher taxes on the wealthy will affect output