If the Price of Tea Falls and as a Consequence

question 73

Multiple Choice

If the price of tea falls and as a consequence the demand for sugar rises, then tea and sugar are

• A)luxury goods.
• B)independent goods.
• C)complementary goods.
• D)neutral goods.
• E)substitute goods.

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Definitions:

Quid Pro Quo Corruption

A type of corruption involving a direct exchange of goods or services for personal gain or influence, where one party offers something to another in return for a favor.

Express Powers

Powers explicitly granted to an entity or individual by statutes or in a legal document, such as a constitution or contract.

Double Taxation

The imposition of tax on the same income, asset, or financial transaction at two different levels of government, for example, corporate profit followed by personal income tax on dividends.

Perpetual Existence

A feature of corporations allowing them to continue indefinitely, beyond the lives of their owners or members.