Goods X and Y Are Defined to Be Substitutes in Consumption

question 97

Multiple Choice

Goods X and Y are defined to be substitutes in consumption if

• A)the supply of Y varies inversely with the price of X.
• B)the two goods are virtually the same.
• C)the supply of Y varies directly with the price of X.
• D)the demand for Y varies directly with the price of X.
• E)the demand for Y varies inversely with the price of X.

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Definitions:

Software System

A collection of software components, programs, or procedures that are organized to perform a specific function or set of functions.

HR Manager

A professional responsible for overseeing human resources functions within an organization, including recruitment, training, and employee relations.

HRMSP

Human Resource Management Service Provider, a company or software that offers services to manage various HR functions.

HRIS

Human Resource Information Systems (HRIS) are management systems designed to help manage HR, payroll, and other administrative tasks electronically.