An increase in the price of good X causes the demand curve for good Y to shift to the left. We know then that
a. X and Y are complementary goods
b. X and Y are substitute goods
c. X and Y are inferior goods
d. X is a normal good and Y is an inferior good
e. X is an inferior good and Y is a normal good
A
You might also like to view...
Burger King is paying $9 an hour to its workers. If the expected inflation rate equals the actual inflation rate and both are 10 percent a year, then to keep the real wage rate constant in a year the money wage rate must
A) fall to $8.10 an hour. B) rise to $9.45 an hour. C) rise to $10.00 an hour. D) rise to $9.90 an hour. E) stay at $9.00 an hour.
Supply describes how much of something producers:
A. are willing and able to buy under certain circumstances. B. want to sell under certain circumstances, although they may not be able to. C. are willing and able to offer for sale at varies prices under given circumstances. D. want to offer for sale under certain circumstances, although they may not be willing to.
Incentive-based regulations:
a. set an environmental goal, but are flexible on how to achieve the goal. b. obtain more efficiency gains is obtainable from CAC regulations. c. effluent taxes are an example of incentive-based regulations. d. all of the above are true. e. none of the above are true.
Contractionary monetary policy tends to:
A. raise U.S. prices, make exports cheaper relative to imports, and raise the value of the dollar. B. raise U.S. prices, make exports more expensive relative to imports, and lower the value of the dollar. C. lower U.S. prices, make exports cheaper relative to imports, and raise the value of the dollar. D. lower U.S. prices, make exports more expensive relative to imports, and lower the value of the dollar.