Even if two products have different characteristics, such as color, the products are only considered heterogeneous if consumers
A) consider the two products as perfect complements.
B) consider the two products as perfect substitutes.
C) consider the two products as imperfect substitutes.
D) consider the two products as imperfect complements.
C
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In December 2009, currency was $400 billion, traveler's checks were $5 billion; checkable deposits owned by individuals and businesses were $600 billion, saving deposits were $2,00 billion, time deposits were $1,500 billion; and money market funds
were $1,200 billion. What was the M1 in December 2009? A) M1 = $405 billion B) M1 = $1,005 billion C) M1 = $3,005 billion D) M1 = $3,500 billion E) M1 = $3,505 billion
If the price of chicken falls, then in the market for beef
A) the demand curve for beef shifts rightward. B) the demand curve for beef shifts leftward. C) there is a movement downward along the demand curve for beef. D) there is a movement upward along the demand curve for beef.
The most direct and important consequence of an increase in asymmetric information problems is ________
A) a decrease in the probability of loan repayment B) inability to assess the probability of loan repayment C) unwillingness of borrowers to accept the market rate of interest D) inability of creditors to acquire enough funds to meet borrowers' demand
Governments have to rely on taxes for financing because
A) they cannot borrow unlimited amounts. B) they usually spend all of the gold reserves. C) gold prices have fallen steadily over the years. D) they are not allowed to sell bonds.