The cross elasticity between computers and software is
A) negative because they are substitutes.
B) positive because they are substitutes.
C) negative because they are complements.
D) positive because they are complements.
E) positive because they are normal goods.
C
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Exports are products produced in the home country and sold in another country
Indicate whether the statement is true or false
Point C on the production possibilities frontier in the above diagram illustrates
A) a point that achieves production efficiency. B) a combination of goods and services that cannot be produced efficiently C) all goods and services that are desired but cannot be produced due to scarce resources. D) a production point that has underutilization of resources
Explicit costs are nonmonetary costs
Indicate whether the statement is true or false
What best describes the relationship between England and the US?
a. Throughout US history Britain has been one of the leading sources of immigrants. b. During most of the colonial period it provided relatively little monitoring of colonial actions. c. England often fought the Portuguese to protect its holding in colonial America. d. Until the Civil War, England was the primary source for American manufactured goods.