Goods A and B are complementary goods. A decrease in price of good A has occurred. In the market for good B, this will lead to
A) an increase in price and a decrease in quantity.
B) an increase in price and an increase in quantity.
C) a decrease in price and a decrease in quantity.
D) a decrease in price and an increase in quantity.
Answer: B
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When a bakery manager reports that productivity of the 15 workers at her bakery last month was 1,800 loaves per worker, she is referring to the
A. marginal product of labor. B. total product of labor. C. total product of capital. D. average product of labor.
The short-run Phillips curve is ________ than the long-run Phillips curve
A) flatter B) steeper C) less stable D) Both B and C are correct.
What is the future value of $450 at an interest rate of 9 percent two years from today?
a. $534.65 b. $546.35 c. $565.18 d. $574.13
Razor handles and razor blades are examples of goods that are substitutes.
a. true b. false