If a decrease in the price of good A causes a decrease in demand for good B, the two goods are
A) substitutes.
B) complements.
C) normal.
D) inferior.
A
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Refer to Figure 22-4. Suppose the economy gains more capital per hour worked and experiences technological change. This is shown in the figure above by the movement from
A) E to B to D. B) A to E. C) A to B to C. D) A to D.
The F-statistic is an alternative measure of goodness-of-fit of an estimated regression equation and defined as the:
A) variation not explained by the regression equation relative to the variation explained. B) variation explained by the regression equation to the variation not explained. C) variation explained. D) variation not explained.
A profit maximizing monopolist will hire labor up to the point where
A) marginal revenue product equals the price of the product. B) marginal revenue product is greater than the wage rate. C) marginal revenue product equals than the wage rate. D) marginal revenue product is less than the wage rate.
Interdependence in pricing may leading to
A) predatory pricing. B) price-fixing agreements. C) price bundling. D) shifts in elasticities.