Good X and Good Y Are Related Goods

question 36

Multiple Choice

Good X and Good Y are related goods. When the price of Good X rises by 5 percent, the quantity demanded for Good Y rises by 15 percent. Calculate the cross-price elasticity.

• A) 3
• B) -3
• C) -0.3
• D) 0.3

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Definitions:

Numeric Filing System

An organizational method in which files and documents are arranged according to a numerical sequence.

Terminal Digit

A small group of two to three numbers at the end of a patient number that is used as an identifying unit in a filing system.

Completely Destroyed

A state of being utterly ruined or demolished, leaving no remnants intact or recognizable.

Alphabetizing Rules

Guidelines that dictate the correct order to arrange words or entries based on the letters of the alphabet, often used in indexes, libraries, and databases.