Suppose that when the price of good X falls from $10 to $8, the quantity demanded of good Y rises from 20 units to 25 units. Using the midpoint method, the cross-price elasticity of demand is

a. -1.0, and X and Y are complements.
b. -1.0, and X and Y are substitutes.
c. 1.0, and X and Y are complements.
d. 1.0, and X and Y are substitutes.

Economics

Suppose planned expenditures exceed output. Explain how equilibrium is restored in this economy

What will be an ideal response?

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Economics

The U.S. federal budget is determined exclusively by Congress

a. True b. False Indicate whether the statement is true or false

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Economics