Consider two goods: gold jewelry and round-trip bus tickets to Urbana, Illinois. Which statement is most likely correct?

a. They are inferior goods.
b. Their demand curves are quite similar.
c. They are complementary goods.
d. They are substitute goods.
e. They are neither inferior, similar, substitutes, nor complements.

E

Economics

You might also like to view...

If the CPI basket costs $35 in the base period but costs $42, what is the CPI in the next period?

A) 83.3 B) $42 C) 20 percent D) 120

Economics

Refer to Figure 5-4. What is the deadweight loss from producing at the market equilibrium?

A) area D B) area E C) area C D) area F

Economics