An Increase in the Price of Butter, a Substitute Good

question 86

Multiple Choice

An increase in the price of butter, a substitute good, would be most likely to cause

• A)a rightward shift of the demand curve for margarine
• B)a leftward shift of the demand curve for margarine
• C)the quantity of margarine demanded to increase
• D)the quantity of margarine demanded to decrease
• E)a decrease in the price of margarine

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Definitions:

Semiskilled Workers

Employees who have acquired a minimal level of specialized skills and training to perform specific tasks or jobs.

Skilled Workers

Individuals who have acquired special training, knowledge, and experience, often including formal education, necessary to perform complex tasks or trades.

Gilded Age

The period in U.S. history from the 1870s to about 1900, characterized by rapid economic growth, extravagant wealth for some, but also widespread poverty and corruption.

Gilded Age

A term describing the late 19th century in the United States, characterized by rapid economic growth, industrialization, and a marked disparity between rich and poor.