Which of the following pairs of goods is likely to have a negative cross-price elasticity of demand?
A) pancakes and syrup B) orange juice and grapefruit juice
C) peanuts and cat food D) hot dogs and hamburgers
Question 2
The ratio at which a country can trade its exports for imports from other countries is called
A) a free trade agreement. B) the terms of trade.
C) a trade barrier. D) autarky.