Which of the following pairs of goods is likely to be considered substitutes?
A) A Nokia cell phone and a Nokia cell phone charger
B) Coffee and sugar
C) Printers and printing ink
D) A Ford car and public transportation
D
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The Island Republic is a small, tropical nation with rich agricultural land and a warm climate. Which products might it export at a lower opportunity cost than would a larger country in a cooler climate?
a. cars and trucks b. pineapples and flowers c. insurance and banking d. cotton and lumber
Which would cause an increase in the demand for product A?
a. A decrease in the price of a complementary product B b. A decrease in the number of suppliers of product B c. A decrease in the price of product A d. An increase in the cost of producing product A
The total utility of water is
A. lower than the total utility of diamonds, but the marginal utility is higher. B. the same as the total utility of diamonds, but the marginal utilities are the same. C. lower than the total and marginal utility of diamonds. D. higher than the total utility of diamonds, but the marginal utility of diamonds is higher.
A constant contributor to labor productivity growth during the entire 1948-2000 period was
a. capital formation. b. technological change. c. labor force growth. d. government spending.