Suppose That the Price of Peanut Butter Is $3 Per

question 111

Multiple Choice

Suppose that the price of peanut butter is $3 per pound and the price of almond butter is $5 per pound.If the price of peanut butter rises to $3.60 and the price of almond butter rises to $5.50,then the absolute price of peanut butter has _______________ and the relative price of peanut butter has _______________.

• A) risen; fallen
• B) fallen; risen
• C) risen; risen
• D) fallen; fallen

---

Definitions:

Salary Owed

The amount of remuneration that an employer is legally obligated to pay to an employee for the work that has already been completed.

Fire Insurance

Fire insurance is a type of property insurance that covers damage and losses caused by fire, providing compensation to the policyholder.

Supplies Expense

Costs associated with consumable items or supplies used during an accounting period.

Supplies Account

An account used to track the cost of supplies used by a business during an accounting period that are not directly tied to production.