Two Goods Are Substitutes When

question 401

Multiple Choice

Two goods are substitutes when

• A) an increase in the price of one reduces the demand for the other.
• B) an increase in the price of one raises the demand for the other.
• C) the two goods are used together.
• D) the two goods have the same price.

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Definitions:

Intelligence Tests

Tests that are standardized to evaluate human cognitive capabilities and intelligence levels.

Intellectual Development

The growth and change in mental abilities and processing capabilities, including reasoning, problem-solving, and learning.

Deprived Environment

A setting or situation lacking in the basic resources, stimulation, or conditions necessary for physical, emotional, and intellectual development.

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Quantitative measures obtained from intelligence tests that aim to represent an individual's cognitive abilities relative to an average performance for a given age.