Which of the following would most likely be considered complements?
A) butter and margarine
B) rental cars and taxis
C) plastic wrap and aluminum foil
D) tennis rackets and tennis balls
D
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Within a game theory model, if a change in decision-making raises corporation A's profits by $50 and lowers corporation B's profits by $60, the game is a
A) negative-sum game. B) zero-sum game. C) positive-sum game. D) cooperative game.
Because of the United States' long-standing trade deficit with Japan, the supply of U.S. dollars in Japan has increased. Which of the following is true about this situation?
A. The trade deficit will continue to increase in size as Japan gains more U.S. dollars and economic strength. B. We cannot say anything for sure about the trade deficit other than that it exists. C. The value of the U.S. dollar will decrease in terms of the yen, ceteris paribus, thereby reducing the trade deficit. D. Trade restrictions on Japanese imported goods are ultimately the only way to reduce the trade deficit.
The pollution tax in Figure 9.10:
A. increases equilibrium output. B. decreases equilibrium price. C. gives the firm an incentive to switch to a cleaner production process. D. All of these
At equilibrium, deadweight loss is zero.
Answer the following statement true (T) or false (F)