When two goods are complementary goods, as the price of one of the goods goes ______, the quantity demanded of the other goes ______.
A. down; down
B. up; up
C. up; down
D. down; neither up nor down
C. up; down
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Assuming all else equal, if the production technology available to a nation improves, its aggregate production function:
A) shifts inward. B) becomes vertical. C) shifts upward. D) becomes horizontal.
If one Mexican peso was worth 0.05 U.S. dollar, then one U.S. dollar would be worth:
a. 20 Mexican pesos. b. 0.05 Mexican pesos. c. 0.05 U.S. dollars. d. 20 U.S. dollars. e. 1 Mexican peso.
Money prices are:
A. always the best way to solve economic problems. B. essential to a coordinating mechanism. C. unfair ways of coordinating individual actions. D. not essential to a coordinating mechanism.
What was the most influential factor in the United States' economic development during the 19th century?
A. the abundance of capital B. the abundance of labor C. mass production D. the abundance of land