Kiwis and Strawberries Are Substitutes for Consumers

question 54

Multiple Choice

Kiwis and strawberries are substitutes for consumers.An increase in the price of a kiwi coupled with an increase in the number of strawberry growers ________ the equilibrium price of a pound of strawberries and ________ the equilibrium quantity of strawberries.

• A) raises; increases
• B) probably changes, but more information is needed to determine if it rises or falls; increases
• C) raises; probably changes, but more information is needed to determine if it increases or decreases
• D) lowers; probably changes, but more information is needed to determine if it increases or decreases
• E) lowers; increases

---

Definitions:

Chapter 13

A chapter under the United States Bankruptcy Code, allowing individuals earning a regular income to develop a plan to repay all or part of their debts.

Unsecured Creditor

A creditor who extended credit without requiring specific collateral, and thus ranks behind secured creditors in claiming repayment in the event of debtor insolvency.

Chapter 7 Liquidations

A bankruptcy process where a debtor's assets are liquidated or sold off by a trustee to pay off creditors, leading to the discharge of remaining debts.

Bankruptcy Trustee

An appointed individual who oversees and manages the estate of a debtor during the bankruptcy process, with the power to sell assets and distribute the proceeds to creditors.