If the cross price elasticity of demand between Los Angeles Lakers professional basketball tickets and Los Angeles Dodgers professional baseball tickets is positive, then the two goods are
A) substitutes.
B) unrelated.
C) complements.
D) not related.
A
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The demand for a good is more elastic if the
A) good is a necessity. B) good has few substitutes. C) good is narrowly defined. D) supply of the good is plentiful. E) Both answers B and C are correct.
Often people trying to withdraw money from their bank must wait in line, which reflects a ________ allocation method
A) first-come, first-served B) market price C) contest D) command
Open-market purchases by the Fed make the money supply
a. increase, which tends to increase the value of money. b. increase, which tends to decrease the value of money. c. decrease, which tends to decrease the value of money. d. decrease, which tends to increase the value of money.
Hiring a more expensive celebrity endorser will always result in higher firm profits.
Answer the following statement true (T) or false (F)