Two goods, X and Y, are complementary goods if the demand for X
a. increases when the price of Y increases
b. increases when income increases
c. decreases when the price of Y increases
d. increases as the price of its substitute good increases
e. decreases as the price of its substitute good decreases
C
Economics
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Suppose a = 50, c = 0.8, and T = 410. How much is saved out of a total income of 1230?
A) 706 B) 606 C) 278 D) 196 E) 114
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People with hidden health problems are more likely to buy health insurance than other people. As a result, people in average health may observe the high prices of insurance and decide not to buy it. This is an example of
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