We say that goods are complements when they:
A. serve similar-enough purposes that a consumer might purchase one in place of the other.
B. are consumed together, so that purchasing one will make a consumer more likely to purchase the other.
C. can replace something consumers typically purchase at a significantly lower price.
D. change a consumer's preferences for a good or service.
B. are consumed together, so that purchasing one will make a consumer more likely to purchase the other.
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The demand for the Franconian franc in the foreign exchange market equals 14,000 - 3,000e and the supply of francs in the foreign exchange market equals 2,000 + 2,000e, where e is the nominal exchange rate expressed in U.S. dollars per franc. If the franc is fixed at 2 U.S. dollars per franc, then to maintain this fixed rate Franconia's international reserves must:
A. decrease by 4,000 dollars per period. B. increase by 4,000 dollars per period. C. decrease by 2,000 dollars per period. D. increase by 2,000 dollars per period.
It is expected that the price of a bushel of wheat will increase in one month. This belief will result in
A) a decrease in the future supply of wheat. B) an increase in the current supply of wheat. C) a decrease in the current supply of wheat. D) no change in the current or future supply of wheat. E) an increase in the current quantity supplied of wheat.
The Federal Reserve
a. prints money for use by individuals during transactions. b. is a nation's monetary authority, responsible for controlling the money supply. c. issues government debt. d. makes loans and takes deposits from individuals. e. collects taxes from corporations only while the Treasury Department collects personal income and Social Security taxes.
Political instability is an obstacle to development in:
A. both market and socialist economies. B. neither market nor socialist economies. C. market economies. D. socialist economies.