The Table Given Below Reports the Quantity Demanded of a Good

question 73

Multiple Choice

The table given below reports the quantity demanded of a good by individuals 1, 2, and 3 at different prices.Table 3.1

-Other things remaining the same, when a fall in the price of one good is followed by an increase in the demand for another good, both goods are said to be:

• A)inferior goods.
• B)substitute goods.
• C)Giffen goods.
• D)public goods.
• E)complementary goods.

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Definitions:

Recognition Strike

A work stoppage initiated by employees to force an employer to recognize their union as the legitimate bargaining representative.

Strike Replacements

Workers who are hired to fill in for regular employees who are on strike, often used by employers to continue operations during labor disputes.

NLRB

The National Labor Relations Board, a federal agency in the United States that enforces labor laws in relation to collective bargaining and unfair labor practices.

Wildcat Strike

An unauthorized work stoppage initiated by employees without the approval of their union leadership, often in response to immediate grievances.