Goods X and Y Are Complementary Goods

question 28

Multiple Choice

Goods X and Y are complementary goods. An increase in the price of good X has occurred. In the market for good Y this will lead to

• A)an increase in price and a decrease in quantity.
• B)an increase in price and an increase in quantity.
• C)a decrease in price and a decrease in quantity.
• D)a decrease in price and an increase in quantity.

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Definitions:

SES

Socioeconomic Status; a measure of an individual's or family's economic and social position in relation to others, based on income, education, and occupation.

Well Liked

Being favored, approved, or admired by many people or within a specific group or context.

Aggressive-Rejected

A social categorization for individuals, often children, who are not accepted by peers because of their aggressive and confrontational behavior.

Popular

describes being liked, admired, or supported by a large number of people or within a specific group/community.