Assume that peanut butter and jelly are complementary goods. A decrease in the number of peanut ...

Assume that peanut butter and jelly are complementary goods. A decrease in the number of peanut butter suppliers will cause the:
 a. demand for peanut butter to increase.
  b. supply of peanut butter to increase.
  c. demand for jelly to increase.
  d. demand for jelly to decrease.
  e. supply of jelly to decrease.

QUESTION 2

Suppose that X and Y are complementary goods. If the price of good X decreases, we can expect the:
 a. demand for good X to increase.
  b. quantity demanded of good Y to decrease.
  c. quantity demanded of good Y to increase.
  d. demand for good Y to decrease.
  e. demand for good Y to increase.

QUESTION 3

Two goods that are complementary are:
 a. wrapping paper and scotch tape.
  b. letter and fax.
  c. beef and chicken.
  d. bicycle and motorcycle.
  e. Coke and Pepsi.

QUESTION 4

If a decrease in price of good X causes the demand curve for good Y to increase, then these two goods are:
 a. normal goods.
  b. complementary goods.
  c. substitute goods.
  d. equilibrium goods.
  e. market-day goods.

QUESTION 5

If the price of hot dogs increases, what will happen in the market for potato chips, a complementary good?
 a. Demand will increase.
  b. Quantity demanded will increase.
  c. Demand will decrease.
  d. Quantity demanded will decrease.
  e. Supply will decrease.

QUESTION 6

Which of the following pairs of goods would be considered complementary?
 a. Coca-Cola and Pepsi.
  b. Computers and computer software.
  c. Radios and televisions.
  d. Mass transit and private automobiles.
  e. Compact discs and cassette tapes.

QUESTION 7

If two goods are complementary, a(n):
 a. decrease in the price of one product will cause a decrease in the demand for the other product.
  b. decrease in the price of one product will cause an increase in the demand for the other product.
  c. increase in the price of one product will cause an increase in the supply of the other product.
  d. increase in the price of one product will cause a decrease in the supply of the other product.
  e. increase in the price of one product will cause an increase in the demand for the other product.

QUESTION 8

If the price of potato chips increases, other things constant, demand for potato-chip dip will:
 a. not change; only quantity demanded will change.
  b. increase, because the goods are substitutes.
  c. decrease, because the goods are substitutes.
  d. decrease, because the goods are complements.
  e. increase, because the goods are complements.