Suppose that when the price of hamburgers increases, the Ruiz family increases their purchases of hot dogs. To the Ruiz family
A) hamburgers and hot dogs are complements.
B) hamburgers and hot dogs are inferior goods.
C) hamburgers and hot dogs are normal goods.
D) hamburgers and hot dogs are substitutes.
Answer: D
Economics
You might also like to view...
You should use the QLR test for breaks in the regression coefficients, when
A) the Chow F-test has a p value of between 0.05 and 0.10. B) the suspected break data is not known. C) there are breaks in only some, but not all, of the regression coefficients. D) the suspected break data is known.
Economics
A patent provides legal protection for an invention for
A) 20 years. B) 9 years. C) 5 years. D) 3 years.
Economics