Of the following, which is the least likely to be an example of substitute goods?

Consumers in a country buy only two goods, pens and CDs. The prices and quantities purchased by urban households are in the table above. If 2011 is the reference base year, the cost of the CPI market basket in the base year is

A) $3,400. B) $3,408. C) $3,580. D) $3,508. E) $3,500.

Which of the following statements about recessions is true?

a. An old rule of thumb defining recession is two consecutive quarters of falling nominal GDP. b. Recessions occur at regular intervals and last standard amounts of time. c. There is no ironclad rule for the declaration of recessions. d. Recessions are associated with low unemployment and high income.