Two goods are complements if a decrease in the price of one causes an increase in the demand for the other good
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
If wages and prices adjust slowly, we would expect expansionary monetary policy to be
A) more likely to result in a vertical short-run Phillips curve. B) less likely to reduce the natural unemployment rate. C) more likely to reduce inflation. D) more likely to affect the unemployment rate.
Suppose Chip's Chips produces bags of potato chips that sell for $3 a bag. What was the total revenue for Chip's Chips?
A. Cannot answer this question without knowing the cost per bag. B. Cannot answer this question without knowing the quantity of bags sold. C. Cannot answer this question without knowing the cost per bag and the quantity of bags sold. D. Cannot answer this question without knowing what market share they hold.
How do modern markets differ from other economic systems in their capacity to produce "growth miracles"?
Other things the same, as the price level rises, the real value of money
a. and the exchange rate rise. b. and the exchange rate fall. c. rises and the exchange rate falls. d. falls and the exchange rate rises.