If the cross elasticity of demand for two goods is positive, then the two goods are substitutes
Indicate whether the statement is true or false
T
Economics
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When measuring GDP by the income approach, wage income includes
i. health-care insurance paid for by the firm for its employees. ii. Social Security contributions made by the firm. iii. wages paid during a worker's vacation time. A) i only B) ii only C) ii and iii only D) i, ii and iii E) i and ii only
Economics
The aggregate supply curve is defined as:
a. net national product. b. the sum of wages, rent, interest, and profits. c. the real GDP produced at different price levels. d. the total dollar value of household expenditures.
Economics