If an increase in the price of one good causes buyers to demand less of another good, then the two goods are:
A. normal goods.
B. inferior goods.
C. substitutes.
D. complements.
D. complements.
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In the above figure, if the milk industry is perfectly competitive, then the firm's marginal revenue curve is represented by
A) curve F. B) curve G. C) curve H. D) curve I.
A mixed capitalist economy is one in which
a. decisions are based primarily on religion or custom b. all resources are publicly owned and economic planning is centralized c. all resources are privately owned and prices are used to coordinate economic activity d. resources are both publicly and privately owned and some markets are regulated e. all resources are publicly owned and prices are used to coordinate economic activity
The current exchange rate system is effectively a dirty float system
a. True b. False Indicate whether the statement is true or false
A decrease in the price level will most likely have what effect on the consumption function?
a. It will shift upward. b. It will shift downward. c. It will cause movement downward along the function. d. It will cause movement upward along the function.