# Which of the following pairs of goods are most likely...

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Which of the following pairs of goods are most likely substitutes? A) Compact discs and compact disc players. B) Cola and lemon lime soda. C) Lettuce and salad dressing. D) Peanut butter and gasoline. Answer: B
The demand for a good increases when the price of a substitute ____ and also increases when the price of a complement ____.
A complement is a good
Suppose people buy more of good 1 when the price of good 2 falls. These goods are
As the opportunity cost of a good decreases, people buy A) less of that good and also less of its complements. B) less of that good but more of its complements. C) more of that good but less of its complements. D) more of that good and also more of its complements. Answer: D
People come to expect that the price of a gallon of gasoline will rise next week. As a result,
The demand curve for a normal good shifts left-ward if income ____ or the expected future price ____.
If income increases or the price of a complementfalls,
If income decreases or the price of a complement rises, A) the demand curve for a normal good shifts left-ward. B) the demand curve for a normal good shifts rightward. C) there is an upward movement along the demand curve for the good. D) there is a downward movement along the demand curve for the good. Answer: A
A consumer might consider in-line skates and elbow-pads to be
A decrease in the price of a game of bowling shifts the