If the Value of the Cross Price Elasticity of Demand

question 102

Multiple Choice

If the value of the cross price elasticity of demand of good X for a change in good Y's price is less than 0, then:

• A) the goods are complementary.
• B) the goods are substitutes.
• C) demand is said to be inelastic.
• D) the goods are superior goods.
• E) demand is said to be elastic.

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Definitions:

Economic Opportunities

Prospects for participation in the labor market and the chance to engage in profitable ventures or activities, often influencing migration patterns and personal choices.

Gender Roles

The societal norms dictating the behaviors, tasks, and responsibilities considered appropriate for men and women.

Religious Independence

The freedom of religious groups or individuals to practice, express, and govern their religion without interference or control by external authorities.

Family Security

Measures and policies designed to protect the economic and social wellbeing of families, including health insurance, income support, and child welfare services.