For complements, cross price elasticity of demand is:

a. Negative
b. Positive
c. between zero and one only
d. zero.

a

Economics

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The more specialized labor becomes, the:

a. less likely it is that a double coincidence of wants will exist, and the less likely it is that monetary exchange will develop. b. less likely it is that a double coincidence of wants will exist, and the more likely it is that monetary exchange will develop. c. more likely it is that a double coincidence of wants will exist, and the less likely it is that monetary exchange will develop. d. more likely it is that a double coincidence of wants will exist, and the more likely it is that monetary exchange will develop. e. more likely it is that the individual is producing only what he or she wants to consume.

Economics

One of the two reasons why we are driven to buy and sell goods and services in the market is that most of us are incapable of producing everything we want to consume.

Answer the following statement true (T) or false (F)

Economics