If iPods and iTunes are complements, then a decrease in the price of iPods will result in a decrease in the demand for iTunes.
Answer the following statement true (T) or false (F)
False
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Assume that the share of population employed in all countries is 50 percent. Based on the information in the table, which country has the smallest real GDP per capita? CountryPopulation (millions)Average Labor Productivity ($)A1002,000B15010,000C7525,000D25050,000E9560,000
A. Country D B. Country B C. Country E D. Country A
Refer to the information provided in Table 23.4 below to answer the question(s) that follow.
Table 23.4
Refer to Table 23.4. Society's MPS is
A. 0.1. B. 0.25. C. 0.8. D. 0.9.
Refer to the graphs below. They show the long-run average total cost (LRATC) for a product. Which graph would most probably be applicable to a natural monopoly?
A. Graph A
B. Graph B
C. Graph C
D. Graph D
When commercial banks borrow reserves from the Fed, the quantity of reserves in the banking system ________ and, ultimately, the money supply ________.
A. increases; increases B. decreases; decreases C. increases; decreases D. decreases; increases