Mulch is shredded wood and is a by-product in the production of lumber. Because these two goods are produced together, they are
A) complements in production.
B) substitutes in production.
C) inputs into the same production process.
D) not related.
E) normal goods in production.
A
Economics
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If there is more production of final goods in the economy, then income ___.
A. will fall B. might fall C. will rise D. might rise
Economics
The "naïve" Keynesian model is unrealistic because it
A. Does not take into account probable changes in the price level as the economy approaches full employment. B. Assumes that AS is upward sloping when it is more probably horizontal. C. Assumes that the price level decreases as AD increases. D. Does not account for changes in output due to the multiplier.
Economics