After the price of smartphone apps falls, Justin buys fewer flash drives but he buys a new smartphone. For Justin
A) smartphone apps and flash drives are complements, and smartphone apps and smartphones are substitutes.
B) smartphone apps, flash drives, and smartphones are all complements.
C) smartphone apps and flash drives are substitutes, and smartphone apps and smartphones are complements.
D) smartphone apps, flash drives, and smartphones are not all complements.
C
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Which of the following positions would a mercantilist support?
a. Trade in manufacturing goods is good for the US. b. Imports to the U.S. from Japan are beneficial to the U.S. c. Exports from Japan to the U.K. are beneficial to Japan. d. Movement of labor from UK to US is beneficial to US.
When the Federal Reserve increases the Federal Funds target rate, it achieves this target by
a. purchasing government bonds. This action will reduce investment and shift aggregate demand to the right. b. purchasing government bonds. This action will increase investment and shift aggregate demand to the right. c. selling government bonds. This action will reduce investment and shift aggregate demand to the left. d. selling government bonds. This action will increase investment and shift aggregate demand to the left.