Which of the following pairs provides examples of complementary goods?
A. Cars and trucks
B. Coffee and tea
C. Butter and margarine
D. Cars and tires
D. Cars and tires
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Since 1925, the longest expansion in the United States lasted:
A. 21 months. B. 43 months. C. 60 months. D. 120 months.
Rent seeking
A) is the act of obtaining special treatment by the government to create economic profit. B) is the attempt to get rent from tardy renters. C) occurs when landlords advertise for apartments and other property for rent. D) is an attempt to sell a property and capture economic profit. E) occurs when a firm charges different prices for different units of its good or service.
Individuals who face greater risks
a. are more likely to purchase insurance b. are less likely to purchase insurance c. are neither more nor less likely to purchase insurance d. are risk neutral
Which of the following is not a reason for international specialization?
a. some countries have educated, trained workers, while other countries have unskilled workers b. tastes and preferences tend to be different in different countries c. economies of scale can allow larger, specialized producers to operate at lower average cost d. mineral resources are often concentrated in particular countries e. the world price of a good is determined by the world supply and demand for it