Landon increases his consumption of Good X and Good Y when his income increases. For Landon
A. Good X and Good Y are substitute goods.
B. Good X and Good Y are complement goods.
C. Good X and Y are normal goods
D. Good X is an inferior good.
Answer: C
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The term "predatory pricing" is usually used by people who are objecting to
A) extremely unpredictable prices. B) low prices. C) prices unrelated to costs of production. D) speculative pricing policies. E) very high prices.
If 100 Japanese yen buy more U.S. dollars today than yesterday, the dollar has ________ and the yen has ________
A) depreciated; appreciated B) appreciated; depreciated C) depreciated; depreciated D) appreciated; appreciated
For state nonmember banks, the "primary" federal regulator is the
A) Federal Reserve. B) FDIC. C) House Banking Committee. D) Comptroller of the Currency.
Luxury brands like designer sun glasses are goods that may exhibit snob effects. Suppose this is true, and the price for a particular brand increases. What happens to the component changes in the quantity demanded?
A. Pure price effect is positive, snob effect is negative. B. Pure price effect and snob effect are positive. C. Pure price effect is negative, snob effect is positive. D. Pure price effect and snob effect are negative.