The greater the positive cross elasticity of demand between products A and B, the:
a. greater the degree to which they are substitutes
b. greater the degree to which they are complements.
c. smaller the elasticity of demand for both products.
d. greater will be both products responsiveness to changes in income.
a
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Joaquín is trying to raise support for a referendum that would improve the environment but diminish local manufacturing jobs by 5 percent. How could he use positive framing to encourage voters to support the referendum?
a. Argue that the environment is infinitely more important than a mere 5 percent of jobs. b. Point out that even if no action is taken, local manufacturing jobs will decline eventually anyway. c. Emphasize that the bill will save both the environment and 95 percent of local manufacturing jobs. d. Introduce another referendum that would improve the environment by 5 percent but diminish local manufacturing jobs by 95 percent.
At any particular quantity on the TC, its slope will be
A. the same as the slope of the TVC. B. greater than the slope of the ray out of the origin to that point on the TC. C. smaller than the slope at the quantity on the TVC. D. greater than the slope at the quantity on the TVC.
Which of the following will cause a change in aggregate demand?
A. A change in consumer demand B. A change in the demand for investment goods C. A change in government spending D. All of the choices will cause a change in aggregate demand.
According to the Consider This box about hypothetical countries Slogo, Sumgo, and Speedo, small differences in __________ make for large differences in _________ over several decades, assuming the same growth of population for each
country. A. inflation rates; unemployment rates B. unemployment rates; economic growth rates C. economic growth rates; real GDP per capita D. tax rates; real GDP per capita