If the Price of "X" Increases and You Buy More

question 128

Multiple Choice

If the price of "X" increases and you buy more "Y," then

• A)"X" and "Y" are complements,and the price of "Y" will increase.
• B)"X" and "Y" are complements,and the price of "Y" will decrease.
• C)"X" and "Y" are substitutes,and the price of "Y" will increase.
• D)"X" and "Y" are substitutes,and the price of "Y" will decrease.

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Definitions:

Par Value

The nominal or face value of a bond, share of stock, or other financial instrument, as stated by the issuing company.

Deductible Expenses

Expenses that can be subtracted from gross income, reducing the amount of income subject to taxation.

Financial Loss

The reduction in an organization's financial wealth, usually from expenses exceeding revenues in a given period.

Federal Income Tax Returns

Documents filed with the IRS that report earnings, expenses, and other pertinent tax information, used to calculate federal income tax liability.