The cross price elasticity of demand between two goods will be positive if
A) the two goods are complements.
B) the two goods are substitutes.
C) the two goods are luxuries.
D) one of the goods is a luxury and the other is a necessity.
B
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The most common definition that monetary policymakers use for price stability is
A) low and stable deflation. B) an inflation rate of zero percent. C) high and stable inflation. D) low and stable inflation.
Usury laws first originated in the United States in the 1970s in response to high market interest rates
Indicate whether the statement is true or false
A black market
A. was created when after hours trading was permitted on some stock exchanges. B. is a market where products with outdated expiration dates are sold. C. can arise when government imposes a price floor below the market clearing price. D. can arise when government imposes a price ceiling below the market clearing price.
As long as an item has never been sold, its value is counted in GDP for the year in which it is finally sold.
Answer the following statement true (T) or false (F)