An Increase in the Price of a Substitute Good Will

question 175

True/False

An increase in the price of a substitute good will shift the demand curve for a good to the right.

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Definitions:

Federal Government

The national government of the United States, composed of three branches: legislative, executive, and judicial.

Lower-Level Governments

Administrative divisions within a country that operate below the level of the central government, such as states or provinces.

Direct Taxation

Taxes that are imposed directly on an individual's income or wealth, and on corporations' profits.

Tenth Amendment

An amendment to the U.S. Constitution that states powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.