Which statement is an example of complementary goods affecting demand?
a. When diets that limited bread became popular, sales of jelly dropped.
b. When studies showed that fish contained toxins, sales of chicken rose.
c. As the U.S. Hispanic population grew, sales of salsa increased.
d. After a fashion model shared her diet secrets, yogurt sales went up.
Ans: a. When diets that limited bread became popular, sales of jelly dropped.
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Refer to Figure 10-9. If the consumer has $240 to spend on DVDs and CDs, what is the price of a DVD if the budget constraint is BC1?
A) $10 B) $20 C) $24 D) $40
The circular flow diagram divides the economy into:
a. Household sector and business sector. b. Real sector and nominal sector. c. Domestic sector and foreign sector. d. Agricultural sector and non-agricultural sector. e. None of the above is correct.