Complements
What will be an ideal response?
Two goods for which and increase in the price of one leads to a decrease in the demand for the other.
You might also like to view...
What is causing South Africa’s youth unemployment problem?
a. Inability to devalue its currency b. High number of laws restricting hiring and firing c. High current account deficit d. Youth lack necessary work skills.
A minimum wage law that sets the minimum below the equilibrium wage rate will
a. create unemployment b. have no effect on employment c. increase employment d. raise the equilibrium wage rate e. lower the equilibrium wage rate
During the deliberations on fiscal stimulus in 2009, the debate over fiscal policy focused on
a. the multiplier effect of tax cuts versus higher government spending. b. the multiplier effect of different types of tax cuts. c. the incentive effects of tax cuts. d. all of the above
Medical care decisions involve costs as well as benefits. Which of the following statements is true?
a. Return on investment is important when considering any outlay. Often, a more relevant criterion in medical investment is the opportunity cost of the resources in terms of other beneficial uses of the same resources. b. There is no place for economic considerations in life-and-death situations. c. The challenge in applying economics to medical care decisions is that there are no good substitutes for medical care. d. Medical practitioners must not let cost become an issue when recommending treatment options.