In: Economics
1) A decline in the price of good A causes the demand curve for good B to shift to the left. We can conclude goods A and B are
a. inferior goods
b. substitutes
c. normal goods
d. complements
2) you observe the price of a good rises and the quantity sold decreases. This is the result of
a. a decrease in supply
b. an increase in supply
c. a decrease in demand
d. an increase in demand
3) suppose people buy more of good 1 when the price of good 2 falls. These goods are
a. normal
b. inferior
c. substitutes
d. complements
1. Option B.
2. Option A.
3. Option D.