Which of the following are most likely substitute goods?

A. peanut butter and jelly
B. cooking oil and butter
C. pizza and beer
D. trucks and gasoline

Answer: B

Economics

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A ________ system is one in which households pay the same percentage of their incomes in taxes regardless of their income level

A) progressive B) regressive C) proportional D) complementary

Economics

When the LM curve is vertical,

A) fiscal policy has no impact on equilibrium income. B) fiscal policy has no impact on the equilibrium interest rate. C) the economy is at full employment. D) monetary policy has no impact on equilibrium income.

Economics