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When two goods are substitutes for each other, what will the cross-price elasticity be?

Dinesh loses his job as a bookkeeper at a company that builds yachts because sales are slow due to a general slowdown in the economy. This is an example of __________ unemployment.

  Refer to the table below, which describes two people’s demand schedules for a 20-pack of AAA batteries: Price Maia’ Demand Lin’s Demand $20.00 0 0 $18.00 1 0 $16.00 1 1 $14.00 2 1 $12.00 2 1 $10.00 3 2 $8.00 4 2 $6.00 5 3 $4.00 7 3 $2.00 9 4 Assume that the market for AAA batteries has only two consumers: Maia and Lin. According to the table above, if the price of a 20-pack is $8, the market will demand ________ packs of batteries.  

  An opportunity cost is  

Negative inflation is called

What is the definition of market demand?

  Goods that are produced for current consumption are called ________ goods.  

  ________ is/are considered a liability on a bank’s balance sheet.  

  Assume that the market for chairs consists of only three individuals: Huey, Dewey, and Louie. Here are their demand schedules: Price Huey’s Demand Dewey’s Demand Louie’s Demand $1 6 4 2 $2 5 4 1 $3 4 3 1 $4 3 3 0 $5 2 2 0 $6 1 2 0 From the information in the demand schedules, answer the following questions:     a. If the price of a chair were $2, how many chairs would be sold?     b. If the price of a chair were $5, how many chairs would be sold?  

  What would happen to the equilibrium price and quantity of sweaters if the price of wool increases and all else is held constant?