The cross price elasticity of demand between two goods will be positive if
A) the two goods are complements.
B) the two goods are substitutes.
C) the two goods are luxuries.
D) one of the goods is a luxury and the other is a necessity.
B
Economics
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If consumption equals $1,000 when income is $1,000 and increases to $1,900 when income increases to $2,000, then the marginal propensity to consume is
A) 0.50. B) 0.90. C) 1.00. D) 2.00.
Economics
Eliminating important details in economic analysis is necessary to understand the complexity of the economy
a. True b. False Indicate whether the statement is true or false
Economics