If a 5 Per Cent Increase in the Price of Good

question 73

Multiple Choice

If a 5 per cent increase in the price of good A leads to a 4 per cent decrease in the demand for good B, then

• A) both goods are normal goods.
• B) the goods are substitutes.
• C) the goods are complements.
• D) only one good is a normal good.

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Definitions:

Foster Care

A system in which a minor has been placed into a ward, group home, or private home of a state-certified caregiver, referred to as a "foster parent".

Grandparents

The parents of one's parents, often playing significant roles in family support, heritage, and intergenerational learning.

Foster Parents

Individuals or couples who provide a caring and nurturing environment for children temporarily separated from their biological families.

Adoption Agencies

Organizations that facilitate the process of placing children with persons or families who wish to adopt.