Goods X and Y Are Complementary Goods

question 297

Multiple Choice

Goods X and Y are complementary goods. A decrease in 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:

Federalist Faction

A political group in early United States history that supported a strong federal government and the ratification of the Constitution, contrasting with the Democratic-Republicans.

Basic Beliefs

Fundamental principles or ideas that form the foundation of a particular ideology, religion, or system of thought.

Characteristics

Features or qualities that distinguish a person, object, or phenomenon from others, defining its nature or attributes.

Republican Faction

A group or party within a larger political context that advocates for a republic form of government, often emphasizing values such as liberty, democracy, and the rule of law.