The relationship between a change in the price of a complementary good and demand for another complementary good is
A) positive.
B) negative.
C) inconclusive.
D) zero.
Answer: B
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According to the AS-AD model, when real GDP is less than potential GDP, the unemployment rate is definitely
A) equal to the natural unemployment rate. B) rising. C) falling. D) greater than the natural unemployment rate. E) less than the natural unemployment rate.
Consider a firm with the following cost information: ATC = $15, AVC = $12, and MC = $14 . If we know that this firm has decided to produce Q = 20 by following the rule to maximize profits or minimize losses, then the price of the output is
a. $12 b. $14 c. $15 d. $20 e. indeterminate from the information given
British economist A. H. Phillips published his famous paper on the relationship between inflation and unemployment during ______.
a. the Great Depression b. World War II c. the 1950s d. the 2008 financial crisis
When there is political instability in another country, the United States can expect
A) an increase in the financial account balance due to an increase in the current account. B) an increase in the financial account balance due to the movement of assets to the U.S. C) a decrease in the balance of payments due to a decrease in official reserve transactions. D) a decrease in the balance of payments due to a decrease in the demand for goods and services.