If an Increase in the Price of Good X Leads

question 82

Multiple Choice

If an increase in the price of good X leads to an increase in the consumption of good Y,then goods X and Y are called:

• A) substitutes.
• B) complements.
• C) normal goods.
• D) inferior goods.

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Definitions:

Downward Sloping

Describes a line on a graph that shows a decrease in one variable as another variable increases, often used to illustrate laws of demand in economics.

Negatively Related

A term used to describe two variables that move in opposite directions; as one increases, the other decreases.

Same Direction

A term indicating that two or more variables move in tandem, either increasing or decreasing together.

Y-variable

In statistical modeling and experiments, the dependent variable that is influenced or predicted by another variable (X-variable), used to measure outcomes or results.