A Rise in the Price of Good a Shifts the ________

question 319

Multiple Choice

A rise in the price of good A shifts the ________ good B rightward if the cross elasticity of demand between A and B is ________.

• A) demand curve for; negative
• B) demand curve for; positive
• C) supply curve of; negative
• D) supply curve of; positive

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Definitions:

Panic of 1837

A financial crisis in the United States that led to a major recession, caused by speculative lending practices, bank failures, and a lack of confidence in the banking system.

Prices

The amounts of money expected, required, or given in payment for something.

Economic Downturn

A period of decline in economic activity and growth, often marked by rising unemployment and financial instability.

Capital Crime

A crime that is punishable by death.