Related to the Economics in Practice on page 67: Consumption of quinoa has been on the rise. A grain called teff has been referred to as quinoa's twin and is often consumed in place of quinoa. This would make teff and quinoa ________, and an increase in the price of quinoa should ________ the demand for teff, ceteris paribus.
A. complements; decrease
B. substitutes; decrease
C. substitutes; increase
D. complements; increase
Answer: C
Economics
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Stagflation occurs when
A) inflation rises and GDP rises. B) inflation falls and GDP rises. C) inflation rises and GDP falls. D) inflation falls and GDP falls.
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