If the Price of Tea Increases And,as a Result,the Demand

question 142

Multiple Choice

If the price of tea increases and,as a result,the demand for sugar decreases,then

• A) tea and sugar are complements.
• B) tea is a normal good and sugar is inferior.
• C) tea and sugar are substitutes.
• D) tea is an inferior good and sugar is normal.
• E) tea and sugar are unrelated to each other.

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Definitions:

VLOOKUP

A function in spreadsheet programs that searches for a value in the first column of a table array and returns a value in the same row from a specified column.

AND

A logical operator that yields true only if all the operands or expressions being compared are true.

Clustered Column Chart

A type of bar chart that groups related data bars together to facilitate comparison across categories.

Stacked Column Chart

A graphical representation of data where different values are stacked on top of each other in columns, showcasing parts of the whole.