Which of the following pairs of goods would be considered complementary?
a. Coca-Cola and Pepsi.
b. Computers and computer software.
c. Radios and televisions.
d. Mass transit and private automobiles.
e. Compact discs and cassette tapes.
b
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Even if college imparted no additional knowledge to its graduates, they are likely to earn more because _____
a. firms like to say they only hire college graduates b. of the connections that one makes in college c. a college degree sends a signal of innate ability to employers d. their parents help them get a job
Wants are
A) another term for needs. B) the things people would consume if they had unlimited incomes. C) the things people consume with their income. D) all the things people really need in order to live comfortably.
In describing the economic setting in the real goods market, which of the following economic measures is the most helpful?
a. Current real exchange rate b. Current unemployment rate and labor force participation rate c. Annual inflation rate during the past year d. Current nominal exchange rate e. Percentage change in nominal GDP during the past year
Opponents of income redistribution argue that
A. redistribution violates the proposition that "one is entitled to the fruits of one's efforts." B. property income is less just than labor income and thus redistribution of that income is justified. C. redistribution encourages too much competition. D. Both A and C are correct.