For each of the following pairs of products, state which are complements, which are substitutes, and which are unrelated
a. Digital camera and memory stick
b. 7Up and Mountain Dew
c. Swimsuits and flip-flops
d. Tylenol and cat food
e. Photocopier and paper
a. Complements
b. Substitutes
c. Complements
d. Unrelated
e. Complements
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Refer to Table 3.1. Which of the following cannot be true?
A) The consumer could be indifferent between A and B. B) A and C could be on the same indifference curves. C) The consumer could be indifferent between B and C. D) A and C could be on different indifference curves.
A merger may cause movement upward along the demand curve.
Answer the following statement true (T) or false (F)
The level of unemployment that is equal to the frictional and structural rate in the long run is sometimes referred to as
A. the natural rate of unemployment. B. cyclical employment. C. the zero unemployment rate. D. the total rate of unemployment.
Which of the following is NOT true about the aggregate demand curve?
A. The aggregate demand curve shows total planned real expenditures at different price levels. B. The aggregate demand curve considers the entire circular flow of income. C. Changes in the economic conditions in other countries will lead to a shift of the aggregate demand curve. D. The production possibilities curve determines the slope of the aggregate demand curve.