There is an increase in the demand for cream when the price of coffee falls. Other things constant, we can conclude that coffee and cream are
A) substitute goods.
B) inferior goods.
C) independent goods.
D) complementary goods.
D
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The above figure shows the U.S. market for 1 carat diamonds. With free trade, U.S. production of diamonds is equal to ________ diamonds. When the quota illustrated in the figure is in place, U.S. production is equal to ________ diamonds
A) 300,000; 100,000 B) 100,000; 500,000 C) 300,000; 500,000 D) 100,000; 300,000 E) 900,000; 700,000
Historically, the U.S. governmental structure and political system
(a) changes in the presence of a system of checks and balances as circumstances change. (b) is a fixed structure and, therefore, provides the stability needed to support productive activities. (c) guarantees that only the qualified can vote. (d) strongly protects the economic interests of capitalists identified as responsible for economic growth.