If the Price of Gadgets Falls and Gadgets and Widgets

question 156

Multiple Choice

If the price of gadgets falls and gadgets and widgets are substitutes, we would expect:

• A)The quantity of gadgets demanded to increase and the demand for widgets to increase.
• B)The quantity of widgets demanded to decrease and the demand for gadgets to increase.
• C)The quantity of gadgets demanded to increase and the demand for widgets to decrease.
• D)The quantity of widgets demanded to decrease and the demand for gadgets to decrease.

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Definitions:

Catherine de'Medici

A prominent figure in French history, she was queen consort of France from 1547 to 1559 and played a significant role in the political and religious conflict of her times.

Mercenaries

Individuals or groups hired to fight in an armed conflict but are not part of the regular army or fighting forces of a country.

Thirty Years' War

A devastating and complex conflict in Central Europe between 1618 and 1648, involving many European states, marked by a struggle between Catholic and Protestant territories and resulting in significant territorial and power shifts.

Henry IV

King of France from 1589 to 1610, notable for issuing the Edict of Nantes which granted religious freedom to French Protestants and effectively ended the Wars of Religion.