How can one tell from cross elasticity what kind of relationship exists between any two goods?

What will be an ideal response?

If the price of X increases and the quantity demanded of Y decreases, resulting in a negative cross elasticity, the two goods are complements. If the price of X increases and the quantity demanded of Y increases, resulting in a positive cross elasticity, the two goods are substitutes.

Economics

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Which of the following are not included as a component of national income?

a. Corporate profits b. Compensation of employees c. Net interest income d. Capital gains and capital losses

Economics

The United Kingdom dropped out of the ERM to avoid worsening a recession

Indicate whether the statement is true or false

Economics