The cross elasticity of demand for butter and margarine is likely to be
A) positive because they are substitutes.
B) positive because they are complements.
C) negative because they are substitutes.
D) negative because they are complements.
E) positive because they are normal goods.
A
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Which of the following statements is not correct? a. Economic growth is best measured by the annual percentage change in nominal GDP per capita. b. An economy producing along the production possibilities curve is operating at its potential output. c. Economic growth is a crucial determinant of people's well-being
d. If the quality of labor improves, an economy's production possibilities curve will shift outward.
Which of the following is not typically used for qualifying mortgages as prime or subprime?
A. The loan to value ratio B. The borrower's ethnicity C. The borrower's income D. The borrower's credit score