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Author Question: If the price of ice cream increases substantially (ceteris paribus), the equilibrium quantity of hot ... (Read 51 times)

Beheh

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on: Jun 30, 2018
If the price of ice cream increases substantially (ceteris paribus), the equilibrium quantity of hot fudge sauce, a complement, is likely to:
 a. increase, and the equilibrium price of hot fudge is likely to decrease.
  b. increase, and the equilibrium price of hot fudge is likely to increase.
  c. decrease, and the equilibrium price of hot fudge is likely to decrease.
  d. decrease, and the equilibrium price of hot fudge is likely to increase.

Question 2

To offset the effect of a steep fall in net exports on the economy, the government might:
 a. increase government purchases.
  b. decrease government purchases.
  c. increase taxes.
 d. none of the above.


wfdfwc23

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

a


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