The sum of the individual demands of all consumers in the market is called

If the cross elasticity of demand for two goods is positive, then the two goods are substitutes

Indicate whether the statement is true or false

Joe consumes 10 units of food and 12 units of clothing. Since food is an inferior good, a gift to Joe of a $12 gift certificate at a clothing store will:

A. definitely make Joe worse off than a gift of $12 in cash. B. definitely make Joe better off than a gift of $12 in cash. C. induce Joe to eat more than 10 units of food. D. None of the statements is correct.