Since the cross elasticity of demand between hamburger patties and cheese is negative, these are ________ goods.
A. complementary
B. substitutable
C. normal
D. both complementary and substitutable
A. complementary
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Which of the following describes comparative advantage?
A) To produce a bushel of wheat Farmer John must give up 2 bushels of corn whereas Farmer Ben must give up 3 bushels of corn. B) Company A can produce 4 boxes of cereal in a day whereas Company B can produce 5 boxes of cereal in a day. C) Firm A can produce a good at a cost of $3 and Firm B can produce the good at a cost of $4. D) Jane can type 50 words per minute and Joe can type 60 words per minute.
Aggregate output is ________ related to autonomous consumer expenditure, and is ________ related to the level of taxes
A) negatively; negatively B) negatively; positively C) positively; negatively D) positively; positively
All of the following are examples of financial securities except
A) checking accounts. B) corporate bonds. C) shares of stock. D) Treasury bonds.
The sum of national saving and capital inflows from abroad must equal:
A. capital outflows. B. aggregate demand. C. the trade deficit. D. domestic investment in new capital goods.