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:

Industrial Unionism

A labor union organizing method where all workers in the same industry, regardless of their particular skills or trades, are organized into a single union.

Single Occupation

A career or job path focused on one particular area of expertise or profession.

Business Unionism

A model of labor relations where the main goal of the union is to secure better wages, hours, and working conditions, often through pragmatic dealings with employers.

Capitalist System

An economic system where private individuals own the means of production and operate for profit.