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Author Question: Goods that are similar but are not perfect substitutes are called ________ goods. A) ... (Read 69 times)

mcmcdaniel

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on: Jun 29, 2018
Goods that are similar but are not perfect substitutes are called ________ goods.
 
  A) differentiated
  B) homogeneous
  C) normal
  D) inferior

Question 2

Is the cost of an all-volunteer army in the United States higher or lower than the cost of a conscripted (drafted) army?
 
  A) Higher, unless the citizens are exceptionally patriotic
  B) Lower, unless the army is inefficiently managed
  C) Higher to taxpayers but lower to military personnel
  D) The same because the wage will move to the market-clearing level
  E) We cannot say without knowing the supply of and demand for military personnel.


djofnc

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


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