Suppose Good X Is a Substitute of Good Y

question 10

Multiple Choice

Suppose good X is a substitute of good Y. Everything else remaining unchanged, an increase in price of good Y will lead to:

• A)an increase in demand for good Y.
• B)a decrease in demand for good X.
• C)an increase in demand for good X.
• D)a decrease in price of good X.

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Definitions:

Open-Book Management

A business approach where financial and performance data are shared with all employees to foster involvement and accountability.

Stock Ownership

The holding of shares in a company, representing a claim on the company's assets and earnings.

Society For Human Resource Management

A professional organization dedicated to the advancement of human resource practices and the professional development of HR professionals.

Flextime

A flexible work scheduling arrangement that allows employees to choose their work hours within agreed-upon limits.