Which of the following are complementary resources?
a. margarine and butter used in baking
b. sugar and honey used in cereals
c. a teacher and a chalkboard
d. rye and wheat bread used in a sandwich shop
e. a typewriter and a personal computer used in an office
C
Economics
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Normally in the United States the relationship between nominal and real GDP for a given year is
A) real GDP is greater than nominal GDP because of price increases. B) nominal GDP is greater than real GDP because of price increases. C) nominal GDP equals real GDP. D) nominal GDP is greater than real GDP because of price decreases.
Economics
If the demand faced by a firm is elastic, selling one less unit of output will:
a. increase revenue. b. decrease revenue. c. keep revenues constant. d. decrease price.
Economics