After firm A producing one good acquired another firm B producing another good, it lowered the prices for the bundle of goods. One can conclude that the goods were
a. substitutes
b. complements
c. not related
d. None of the above
b
You might also like to view...
The sale of
A) a used textbook does enter GNP. B) a used textbook does not enter GNP, but the sale of a used house does. C) both a used textbook and a used house do not enter GNP. D) a used house does not enter GNP, but the sale of a used book does. E) the GNP does not include sale of used items priced below $1000.
The AR(p) model
A) is defined as Yt = ?0 + ?pYt-p + ut. B) represents Yt as a linear function of p of its lagged values. C) can be represented as follows: Yt = ?0 + ?1Xt + ?pYt-p + ut. D) can be written as Yt = ?0 + ?1Yt-1 + ut-p.
The required reserve ratio is the:
a. actual amount of reserves that banks must hold. b. excess amount of reserves that a bank must hold. c. minimum amount of reserves the Fed requires a bank to hold. d. total amount of reserves that banks hold at all times. e. maximum amount of reserves that banks can hold to remain liquid.
According to economists, changes in the quality of goods
a. leads to overestimates of the measured value of GDP because these goods last for shorter amounts of time b. leads to underestimates of the measured value of GDP because these goods last for shorter amounts of time c. leads to overestimates of the measured value of GDP because these goods last for longer amounts of time d. have no effect on the measured value of GDP e. leads to underestimates of the measured value of GDP because these goods last for longer amounts of time