If the demand for olives falls when the price of cheese falls, then we know that cheese and olives are:
A. substitutes
B. inferior goods
C. complements
D. normal goods
Answer: A
Economics
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Suppose a new Dunkin' Donuts shop has opened in town. Its main competitor, Doughnut Delite, will likely
a. begin to produce more doughnuts. b. experience higher marginal costs. c. reduce its prices and production. d. make no changes in its pricing and production decisions.
Economics
If productivity and wages both rise by 3 percent, then the aggregate supply curve shifts up.
Answer the following statement true (T) or false (F)
Economics
A bank deposit in Germany denominated in euros is a Eurocurrency deposit.
Answer the following statement true (T) or false (F)
Economics
Refer to the data. The average total cost of five units of output is:
A. $69.
B. $78.
C. $3.
D. $10.
Economics