Which of the following pairs best represents complementary goods?
a. leather shoes and leather boots
b. leather shoes and shoe laces
c. leather shoes and leather sandals
d. leather shoes and cow hides
e. leather shoes and fabric shoes
B
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During the economic crisis of 2008, the Fed acquired the authority to
a. pay interest to commercial banks on their reserves. b. determine the size of the budget deficit or surplus of the Federal Government. c. require the Treasury to print and issue additional currency. d. purchase gold in sufficient amounts to back the U.S. dollar.
The demand for video recorders has been estimated to be linear and given by the demand relation Qv = 145 ? 3.2Pv + 7M ? 0.95Pf ? 39Pm, where Qv is the quantity of video recorders, Pf denotes the price of video recorder film, Pm is the price of attending a movie, Pv is the price of video recorders, and M is income. Based on the estimated demand equation we can conclude:
A. video recorders are normal goods and the demand for video recorders is inelastic. B. video recorders are normal goods and video recorder film is a complement for video recorders. C. the demand for video recorders is inelastic. D. video recorders are normal goods.
If the GDP deflator is less than 100, then for that year, nominal GDP ________ real GDP
A) equals B) is greater than C) is less than D) may be greater than or less than
When an oligopolist chooses a maximin strategy, how is that helpful and what is being assumed about the other players?
What will be an ideal response?