Multiple Choice
If an increase in the price of good X leads to a decrease in the consumption of good Y,then goods X and Y are called
A) substitutes.
B) complements.
C) normal goods.
D) inferior goods.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q157: Suppose that consumers' preferences are well behaved
Q158: Joe consumes 10 units of food and
Q159: Sam Voter prefers Jack to Rob,Rob to
Q160: If sugar and Nutrasweet are substitutes,then we
Q161: Draw the opportunity set of a consumer
Q163: Diminishing marginal rate of substitution implies that
Q164: At a very basic level,food and shelter
Q165: By the completeness property,if neither A ≻
Q166: Use indifference curve and constraint analysis to
Q167: If shoes and socks are complements and