If an Increase in the Price of Good X Leads

question 162

Multiple Choice

If an increase in the price of good X leads to a decrease 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:

Racially And Ethnically Diverse

Refers to groups or environments comprising varied racial and ethnic backgrounds.

Aging

The process of becoming older, which is characterized by the gradual deterioration of physiological functions and increased risk of age-associated diseases.

Alcohol-related Disorders

Medical conditions stemming from excessive alcohol consumption, including dependency and liver damage.

Older People

Refers to individuals typically above the age of 65, often considered the elderly population segment, with unique health, social, and psychological needs.