The market demand for wheat is Q = 100 - 2p + 1 , where is the price of barley. The cross price elasticity of demand for wheat with respect to barley
A) cannot be calculated from just the information provided.
B) is negative.
C) suggests that wheat and barley are complements.
D) equals 1.
A
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Adam Smith's ________ refers to the process by which individuals acting in their own self-interest bring about a market outcome that benefits society as a whole
A) survival of the fittest theory B) invisible hand C) Utopian society D) comparative advantage model
Corporate bondholders
a. can vote on important issues at shareholder meetings b. are part owners of the business c. compose the board of directors d. receive dividends from the corporation e. are general creditors of the corporation
Which of the following would cause a decrease (leftward shift) in the short-run aggregate supply curve (SRAS)?
A. an increase in oil prices B. an advance in technology C. an increase in the CPI D. an increase in the long-run aggregate supply curve (LRAS)
What is a barter system? The drawbacks of this system are as follows:
What will be an ideal response?