If a decrease in the price of good Y causes the demand for good Z to decrease, this indicates that:
a. Y and Z are complements.
b. Y and Z are substitutes.
c. Y and Z are unrelated.
d. Y is a normal good and Z is an inferior good.
b
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The existence of stagflation in the 1970s undermined the credibility of demand-management policies
a. True b. False Indicate whether the statement is true or false
Why is inflation unpopular?
a. It makes financial planning more difficult. b. It leads to shortages in the economy. c. It increases interest on loans. d. It leaves too much time for production.
A voluntary export restraint occurs when one country prevents a specific product from being imported from another country.
Answer the following statement true (T) or false (F)
When government intervenes in the production process because external costs exist, it typically attempts to shift the industry's
A) demand curve to the right. B) demand curve to the left. C) supply curve to the right. D) supply curve to the left.