Which of the following statements about gold jewelry and round-trip bus tickets to Bismarck, North Dakota, is most likely to be correct?
a. They are both inferior goods.
b. Their demand curves probably are quite similar.
c. They are complements.
d. They are substitutes.
e. They are unrelated.
E
You might also like to view...
All of the following are considered natural resources EXCEPT
A) a redwood forest. B) labor. C) gold. D) a coral reef.
According to the ability-to-pay principle, taxes should be levied on a person according to his or her ability to bear that tax burden
a. True b. False Indicate whether the statement is true or false
Which of the following economic forces promotes profitability in the long run?
A. A large number of complementary products B. Existence of strong barriers to entry. C. A large number of close substitute products. D. Both a and b E. All of the above
Exhibit 3A-2 Comparison of Market Efficiency and Deadweight Loss
As shown in Exhibit 3A-2, if the market is in equilibrium, then total surplus is represented by
A. BGHF B. CBEFDA C. CBEA D. AEFD