If X and Y Are Substitute Goods,then an Increase in the Price

question 122

Multiple Choice

If X and Y are substitute goods,then an increase in the price of Y,other things constant,

• A)has no effect on the quantity demanded of good Y,but increases the demand for X.
• B)results in a decrease in the quantity of Y demanded and an increase in the demand for X.
• C)results in a decrease in the quantity Y demanded and a decrease in the demand for X.
• D)decreases the quantity demanded of Y,but has no effect on the demand for X.

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Definitions:

Budget Performance Report

A financial report comparing the actual financial activity to the forecasted or budgeted financial performance.

Variances

Differences between planned or expected financial performance and the actual performance.

Budgeted Amounts

Projected financial allocations set for a specific time period, intended to guide spending and investment decisions.

Payroll Costs

The total amount of wages, salaries, and other compensation a business pays to its employees.