Suppose that an increase in the price of X goods, leads to a decrease in the demand of good Y This would mean that X and Y are: Select one: O a. normal goods. O b. None of the answers are correct O c. substitute goods O d. complementary goods

Suppose that an increase in the price of X goods, leads to a decrease in the demand of good Y This would mean that X and Y are: Select one: O a. normal goods. O b. None of the answers are correct O c. substitute goods O d. complementary goods

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 19QP

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Concept explainers

Normal and Inferior Goods

Understanding a normal good and an inferior good is important because it tells us what will happen to demand different products during booms and recessions.

Question

icroeconomics-20202
section(2,3 &5)Dr. Abdulhadi Ibrahim / midterm exam Section 2,3 and 5( Dr. Abdulhadi)
Suppose that an increase in the price of X goods, leads to a decrease in the demand of good Y This would mean that X and Y are:
Select one:
O a. normal goods.
Ob. None of the answers are correct
Oc. substitute goods
O d. complementary goods
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