Suppose that when the price of hamburgers decreases, the Landry family decreases their purchases of chicken nuggets. To the Landry family
A) hamburgers and chicken nuggets are normal goods.
B) hamburgers and chicken nuggets are inferior goods.
C) hamburgers and chicken nuggets are substitutes.
D) hamburgers and chicken nuggets are complements.
C
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Comparing the U.S. balance of payments in 2012 to the rest of the world, we see that the
A) U.S. current account is similar in size to most developed nations and has a deficit. B) United States has the largest current account surplus. C) United States has the largest capital and financial account deficit. D) United States has the largest current account deficit. E) U.S. current account is similar in size to most developed nations and has a surplus.
A monetary policy target is a variable that
A) the Fed cannot affect directly. B) the Fed has no ability to change. C) the Fed can affect directly. D) equals one of the Fed's main policy goals.
An increase in government purchases, ceteris paribus, will
A) increase public saving. B) reduce investment. C) increase the supply of loanable funds. D) reduce real GDP.
Briefly compare the three tax systems based on the relationship between the marginal tax rate and the average tax rate as income rises
What will be an ideal response?