Asked by Colton Larson on Jul 26, 2024
Verified
Which of the following statements about gold jewelry and round-trip bus tickets to Bismarck,North Dakota,is most likely to be correct?
A) They are both inferior goods.
B) Their demand curves have equal slope.
C) They are complements.
D) They are substitutes.
E) They are unrelated.
Gold Jewelry
Ornamental items made of gold, often used as a form of adornment or investment.
Bus Tickets
Physical or electronic documents that allow an individual to travel on a bus for a specific journey.
Inferior Goods
Goods whose demand decreases as the income of the consumers increases, opposite to what is observed with normal goods.
- Analyze the role that complementary and alternative products play in influencing goods' demand.
Verified Answer
TM
Talal MahmoodJul 28, 2024
Final Answer :
E
Explanation :
There is no apparent relationship between gold jewelry and round-trip bus tickets to Bismarck, North Dakota. They are unrelated goods.
Learning Objectives
- Analyze the role that complementary and alternative products play in influencing goods' demand.