Suppose that the cross price elasticity of demand between goods A and B equals 1.5. Which of the following is TRUE?
A) A and B are complements because the cross price elasticity is greater than one.
B) A and B are complements because the cross price elasticity is positive.
C) A and B are substitutes because the cross price elasticity is greater than one.
D) A and B are substitutes because the cross price elasticity is positive.
D
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Refer to the Article Summary. The increase in GDP discussed in the article summary was due in part to increases in commercial and residential construction
Increases in commercial and residential construction will cause a(n) ________ the aggregate expenditure curve. A) movement down along B) downward shift of C) upward shift of D) movement up along
The Sherman Antitrust Act is primarily concerned with:
a. mergers. b. nationalization. c. price discrimination. d. monopolization. e. unfair and deceptive practices.
If the equilibrium price of an airline ticket is $500 and the government imposes a price floor of $400 on airline tickets, then fewer airline tickets will be sold than at the market equilibrium
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 7.8 below to answer the question(s) that follow. 
Figure 7.8Refer to Figure 7.8. The firm is currently along isocost CE. If the price of labor is $60, then the price of labor is
A. $40. B. $60. C. $80. D. $90.