When the cross elasticity of demand for two services is positive, then these services are __________.
A. complements
B. substitutes
C. both complements and substitutes
D. neither complements nor substitutes
B. substitutes
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If nominal GDP increases, which of the following will always take place?
A) Output will have increased but prices will have fallen or remained the same. B) Prices will have increased but output will have fallen or remained the same. C) Both output and prices will have increased. D) none of the above
Which of the following people are liquidity providers?
A. Used car salesman B. Antiques dealer C. Bank teller D. All of these are considered liquidity providers.
Coordination failure is a situation in which workers and employers fail to achieve an outcome that all would prefer
Indicate whether the statement is true or false
What happens to each of the following if investment becomes less desirable at each interest rate? A. the interest rate B. net capital outflow C. the exchange rate