If the Cross Elasticity of Demand Between Two Goods Is

question 470

Multiple Choice

If the cross elasticity of demand between two goods is -0.56, then a fall in the price of one good leads to a ________ shift in the ________ of the other good.

• A) rightward; demand
• B) rightward; supply
• C) leftward; demand
• D) leftward; supply

---

Definitions:

Unemployment Spells

Periods during which an individual is unemployed and searching for a job.

Short Term

Typically refers to a time frame of up to one year, used to describe periods, financial instruments, or investments with brief durations.

Long Term

Referring to an extended period, often implying a duration that affects future conditions or outcomes.

Structural Unemployment

A form of unemployment that arises from a mismatch between the skills that workers offer and the skills demanded by employers, often due to technological changes or market shifts.