Which of the following pairs of goods are complements?
a. frozen pizza; restaurant pizza
b. potato chips; potato chip dip
c. hockey sticks; tennis balls
d. automobiles; bicycles
b. potato chips; potato chip dip
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When a tariff is? imposed, the supply curve for the imported good
A) shifts downward and to the right.
B) shifts upward and to the left.
C) does not change.
D) becomes perfectly inelastic.
Smithson Pottery is considered a regular exporter because the firm fills unsolicited orders from foreign buyers and passively investigates international trade options.
a. true b. false
Which of the following pairs of goods is LEAST likely to be a pair of complements?
A. razors and razor blades B. soda and bottled water C. gasoline and vehicles D. coffee and sugar
Perfectly competitive markets are responsive to the demand of consumers.
Answer the following statement true (T) or false (F)