The direction of the substitution effect is not influenced by whether the good is normal or inferior

a. True
b. False
Indicate whether the statement is true or false

True

Economics

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In 2015, the price of peanuts was rising, which led peanut butter buyers to expect the price of peanut butter would rise in the future

Consequently, in the current market for peanut butter there was ________ which resulted in ________ in the price of peanut butter and ________ in the quantity of peanut butter. A) an increase in demand for peanut butter; an increase; an increase B) an increase in supply of peanut butter; a decrease; an increase C) a decrease in demand for peanut butter; a decrease; a decrease D) a decrease in supply of peanut butter; an increase; a decrease

Economics

Which of the following is an example of Maslow's third level of needs?

a. sex b. money c. love d. home

Economics