If a producer can use resources to produce either good A or good B, then
A: complements in production.
B: substitutes in production.
C: substitutes in consumption.
D: complements in consumption.
A: complements in production.
B: substitutes in production.
C: substitutes in consumption.
D: complements in consumption.
举一反三
- Which of the following explains why supply curves slope upward? A: prices and income B: increasing marginal cost C: resources and technology D: substitutes in production and complements in production
- If the economy shown in the diagram moves from position A to position B, we would know that ( ) A: the rate of unemployment increased. B: consumption goods production increased, but capital goods production decreased. C: its unemployment decreased, but at the expense of either capital or consumption good production. D: it has achieved full employment of resources.
- Good A and good B are substitutes in production. The demand for good A decreases, which lowers the price of good A. The decrease in the price of good A ( ) A: decreases the supply of good B: increases the supply of good C: decreases the demand for good D: increases the demand for good
- What is the time preference? A: People prefer the present consumption. B: People prefer the future consumption. C: Compared with the future consumption people prefer the present consumption. D: Compared with the present consumption people prefer the future consumption.
- The supply of loanable funds, or “national saving,” is<br/>equal to ____ A: income - consumption. B: income - consumption - taxes. C: income - consumption - government spending. D: income - consumption - government spending - taxes.