Which of the following pairs of goods is the best example of substitute goods?
a. Borden's milk and Nabisco cookies
b. Goodyear tires and Ford automobiles
c. Exxon gasoline and Ford automobiles
d. McDonald's Big Mac and Wendy's grilled chicken sandwich
e. Dell computers and Microsoft software
D
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How will contractionary monetary policy in Japan affect the demand for the yen and the supply of the yen in the foreign exchange market?
A) The demand for the yen will fall, and the supply of the yen will fall. B) The demand for the yen will increase, and the supply of the yen will increase. C) The demand for the yen will increase, and the supply of the yen will fall. D) The demand for the yen will fall, and the supply of the yen will increase.
The tragedy of the commons was avoided in the Middle Ages by
A) the government which imposed a tax for the use of the commons. B) the local police who monitored entry into the commons. C) social pressure to uphold traditionally accepted limits on family use of the commons. D) selling common grounds to individuals.