If the Price of Good a Decreases by 10 Percent

question 181

Multiple Choice

If the price of good A decreases by 10 percent and the quantity demanded of good B decreases by 10 percent, this is evidence that goods A and B are

• A)substitutes for one another.
• B)complement goods to one another.
• C)both inferior goods.
• D)both normal goods.
• E)not related.

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Definitions:

Religious Holidays

Days set aside for observance, celebration, or reflection based on the beliefs and traditions of a religious group.

International Trade

The exchange of goods, services, and capital between countries, facilitating global economic interaction and growth.

Intellectual Property

Intellectual property refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce.