Which of the following pairs of goods would be considered substitutes?
a. Milk and cookies.
b. Tires and automobiles.
c. Ink and pens.
d. Coca-Cola and Pepsi.
e. Computers and computer software.
d
Economics
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The statement, "John buys more of good X as his income increases, Ceteris paribus," means:
a. John's income is being held constant. b. John's purchases of good X are being held constant. c. John's income and purchases of this good are being held constant. d. the price of this good is being allowed to change.
Economics
Falling interest rates cause the market value of previously issued bonds to
a. rise. b. fall. c. remain unchanged. d. increase during periods of inflation but decline during periods of deflation.
Economics