1. People buy more of good 1 when the price of good 2 rises. These goods are...
Question:
A. substitutes.
B. normal goods.
C. inferior goods.
D. complements.
2. The cost of making tennis shoes goes down. The demand for tennis shoes
A. doesn't change
B. shift to the left.
C. shift to the right.
3. Incomes go up. The demand for secondhand clothing, an inferior good,
A. doesn't shift.
B. shifts left.
C. shifts right.
4. The price of falafel increases. The demand for fries, a complement to falafel,
A. increases.
B. decreases.
C. doesn't change
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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