Which of the following is most likely to be a partnership?
a. Uncle Mort's Red Wrigglers
b. The accounting firm of Hope and Williams
c. General Motors
d. The Boston Symphony Orchestra T
e. he U.S. Post Office
If a good is inferior, an increase in income would shift the
a. demand curve leftward
b. supply curve leftward
c. supply and demand curves leftward
d. demand curve rightward.
e. supply curve rightward
Two goods are considered substitutes only if a(n)
a. decrease in the demand for one good leads to a decrease in the supply of the other.
b. increase in the demand for one good leads to a decrease in the supply of the other.
c. increase in the price of one good leads to an increase in the demand for the other.
d. decrease in the price of one good leads to an increase in the demand for the other
e. decrease in the supply of one good causes producers to switch to the production of the other
If Good A and Good B are complements, then a decrease in the price of Good B
a. increases the quantity demanded of Good A.
b. decreases the demand for Good A.
c. increases the demand for Good A.
d. decreases the quantity demanded of Good
e. A increases the demand for Good B.
