There Are Two Universities,A and B,in a City

question 87

Multiple Choice

There are two universities,A and B,in a city.Tuition rises at University A and,as a result,the demand for attending University B rises.It follows that educational services at the two universities are

• A) complements.
• B) normal goods.
• C) inferior goods.
• D) substitutes.
• E) none of the above

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Definitions:

LDCs

Acronym for Less Developed Countries, referring to countries with lower levels of economic development and standard of living.

Average Workweek

The typical number of hours worked in a week by employees in a particular sector or economy.

Economic Growth

An increase in the amount of goods and services produced per head of the population over a period of time.

Population Growth

Population growth refers to the increase in the number of individuals in a population, commonly measured as the percentage change in population over a specific period.