Which of the following are most likely substitute goods?
A. peanut butter and jelly
B. cooking oil and butter
C. pizza and beer
D. trucks and gasoline
Answer: B
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Cost-push inflation starts with
A) an increase in potential GDP. B) a decrease in aggregate demand. C) a decrease in aggregate supply. D) an increase in aggregate supply. E) an increase in aggregate demand.
An understanding of the principles of public sector economics can help us create _____
a. innovative public policies b. a more effective government c. a protective government that better shields its citizens from risk d. new spending programs
If two goods, J and K, are complements, then which of the following statements is FALSE?
A) They are consumed together. B) An increase in the price of J causes the demand for K to rise. C) When the quantity demanded of J increases, the demand for K increases. D) A decrease in the price of K causes an increase in the demand for J.
An increase in the interest rate reduces the opportunity cost of holding money
a. True b. False