If an Increase in the Price of Good X Causes

question 21

Multiple Choice

If an increase in the price of good X causes the demand for good Y to decrease, it can be concluded that

• A) X and Y are substitutes.
• B) X and Y are complements.
• C) X and Y are inferior goods.
• D) X and Y are superior goods.
• E) there is collusion in the marketplace.

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Definitions:

Promote From Within

A hiring policy favoring the advancement of current employees to higher positions over bringing in external candidates.

Lead-The-Market Pay Strategy

A compensation approach where an organization aims to offer salaries higher than the average within its sector to attract and retain top talent.

Job Posting

The process of communicating information about a job vacancy on company bulletin boards, in employee publications, on corporate intranets, and anywhere else the organization communicates with employees.

External Hiring

The practice of filling job vacancies with candidates from outside the organization.