If the price of K declines, the demand curve for the complementary product J will:
a. Remain unchanged
b. Decrease
c. Shift to the right
d. Shift to the left
c. Shift to the right
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The terms of trade refer to:
A) rules and regulations that govern trade between nations. B) product of the opportunity cost of producing the same good in two trading nations. C) exchange rate of goods for goods. D) amount of money that has to be given up to import an additional quantity of a good.
When prices of new houses rise significantly faster than rent prices, this is evidence of a:
A) debt-deflation process B) bubble C) financial crisis D) sovereign debt crisis
Which of the following products witnessed a high growth in the number of producers within a few years of market introduction, but was followed by a fast and substantial shakeout?
a. Tortilla b. Penicillin c. Livestock d. Fastfood
If actual income is $300 billion, potential income is $350 billion, the total surplus is $20 billion, and tax revenue increases with income, then the cyclical deficit can be any of the following except:
A. zero. B. $20 billion. C. $1 billion. D. $10 billion.