If a bottle of soda and bottled juice are substitutes, when the price of soda rises
A) demand for bottled juice rises.
B) demand for bottled juice falls.
C) quantity of bottled juice demanded falls.
D) quantity of bottled juice demanded rises.
Answer: A
Economics
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The OPEC production cuts of 1999-2000 increased energy prices and caused the aggregate supply curve to
a. shift outward. b. shift inward. c. become flatter. d. become steeper.
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