The demand for spring break vacations is ________ than is the demand for textbooks because ________.
A. more price elastic; vacations have less available substitutes.
B. less price elastic; vacations have more available substitutes.
C. more price elastic; vacations are more of a luxury.
D. less price elastic; vacations are more of a luxury.
Answer: C
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Because investment, consumption expenditure, and net exports are interest-sensitive components of expenditure, a ________ in the federal funds rate brings ________ in ________
A) fall; a decrease; aggregate supply B) rise; an increase; aggregate supply C) fall; an increase; aggregate demand D) rise; an increase; aggregate demand E) fall; a decrease; aggregate demand
Which of the following pairs of goods is most likely to have a positive cross-price elasticity?
A) Printers and ink cartridges B) A privately-owned car and public transportation C) Coffee and sugar D) Motorcycles and typewriters
The price elasticity of demand between rifles and bullets is likely to be
a. negative, because the goods are complements b. positive, because the goods are complements c. negative, because the goods are substitutes d. positive, because the goods are substitutes e. 0, because the goods are not substitutes
Tariffs and quotas:?
What will be an ideal response?