________: a measure of the response of consumption of a good or service to changes in the price of another good or service
Fill in the blank(s) with correct word
Cross-price elasticity
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According to the law of diminishing returns, an additional unit of
A) capital produces more output than an additional unit of labor. B) labor decreases output. C) labor produces more output than the previous unit. D) labor produces less output than the previous unit.
According to the crowding-out effect, expansionary fiscal policy will lead to
a. higher interest rates, an appreciated dollar, and reduced net exports. b. higher interest rates, an appreciated dollar, and increased net exports. c. reduced interest rates, an appreciated dollar, and reduced net exports. d. reduced interest rates, an appreciated dollar, and increased net exports.
If there are no interventions by finance ministers or control banks in the international market, then
A) the current account and the capital account must sum to zero. B) the current account will be greater than the financial market. C) the capital market will be greater than the current account. D) the capital market will equal the current account.
In a perfectly competitive market, which of the following is the main factor that affects consumers' decisions on which firm to purchase a good from?
A) quality B) customer service C) reputation D) price