If you are considering buying either an Apple Watch or a Samsung Gear S2, and you choose the Samsung only because the price is lower, then you consider
A) the Apple Watch and the Samsung Gear S2 to be substitutes.
B) the Apple Watch and the Samsung Gear S2 to be complements.
C) the Apple Watch to be a normal good and the Samsung Gear S2 to be an inferior good.
D) the Apple Watch to be an inferior good and Samsung Gear S2 to be a normal good.
A
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Suppose an identical tax is levied on capital, labor, and land. Would the tax have the same effect in each of these markets? Explain your answer
What will be an ideal response?
Initially, the economy is at point B on Figure 10-1 above. According to the Solow growth model, an increase in the output per capita without an increase in capital per worker is represented by ________ and could be the result of ________
A) the movement B to E; new technology discoveries B) the movement B to H; improved health and education per worker C) the movement B to C; an increase in the savings rate D) the movement B to F; a decrease in the savings rate