Hot dogs and hot dog buns are complements. If the price of a hot dog falls, then Question 15 options:
A. the demand for hot dogs will increase.
B. the quantity demanded of hot dogs will decrease.
C. the demand for hot dog buns will increase.
D. the demand for hot dog buns will decrease.
C. the demand for hot dog buns will increase.
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The principle of comparative advantage explains specialization and trade among countries but not among individuals.
Answer the following statement true (T) or false (F)
The IS curve shifts to the left when ________
A) autonomous consumption increases B) taxes increase C) autonomous investment increases D) all of the above E) none of the above
The trade-off between the production of one good and the production of another good can change over time because of technological advances
a. True b. False Indicate whether the statement is true or false
Other things equal, the relationship between the relative importance of a given type of labor in a firm's total costs and the elasticity of demand for that labor is such that the:
A. demand for labor will be elastic only if labor accounts for less than 50 percent of total costs. B. demand for labor will be elastic only if labor accounts for 50 percent or more of total costs. C. larger the labor cost-total cost ratio, the smaller will be the elasticity of labor demand. D. larger the labor cost-total cost ratio, the greater will be the elasticity of labor demand.