Apple, the Consumer Electronics Giant, on Tuesday Rolled Out New

question 197

Multiple Choice

Apple, the consumer electronics giant, on Tuesday rolled out new versions of its popular iPod music player. CEO Steve Jobs also unveiled cheaper models of its Touch music player, a touchscreen-only device. An 8-gigabyte version now costs $229, down from $299. A 32-gigabyte model costs $399, down from $499. Suppose when the price of an iPod decreases by 20 percent, the number of songs downloaded on iTunes increases by 30 percent. Based on this information iTunes are

• A) a normal good.
• B) an inferior good.
• C) substitutes for iPods.
• D) complements to iPods.

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Definitions:

Monasteries

Religious communities where monks or nuns live, work, and pray, often secluded from the secular world, and dedicated to spiritual development.

Jeanne d'Evreux

Queen of France as the third wife of King Charles IV, known for her patronage of the arts, including commissioning the Jeanne d'Evreux Book of Hours.

Mary Queen of Heaven

A title for the Virgin Mary, affirming her role as the mother of Jesus Christ and her eminent position in Christianity and Christian art.

Blanche of Castile

Blanche of Castile was a queen consort and regent of France, known for her role in maintaining the throne for her son, Louis IX, during his minority and later crusades.