Question

6 true or false 9 points you get a raise at your job. instead of making $50,000 a year, you now make $75,000 a year. you now can afford to go on the trip to dubai. the trip would be considered
ormal goods\ in this situation. true false 7 true or false 9 points it is raining heavily outside. you prefer a raincoat to cover your body so your hands can carry your stuff. but you only have an umbrella. the umbrella is considered a \substitute good\ in this situation. true false 8 multiple choice 3 points which pair of things are considered \complementary goods\, meaning that they usually go together when bought or used? vegetable oil and motor oil cake and frosting toilet paper and tissues

Explanation:

Question 6

A normal good is a good for which demand increases as income increases. Here, with a raise (higher income), the ability to afford the Dubai trip (demand for the trip) increases. So the trip is a normal good.

Substitute goods are goods that can be used in place of each other. You prefer a raincoat but use an umbrella as a substitute since it serves a similar purpose (keeping you dry) when the raincoat isn't available. So the umbrella is a substitute good here.

Complementary goods are used together. Cake and frosting are often used together (to make a decorated cake), while vegetable oil and motor oil are unrelated, and toilet paper and tissues are substitutes. So cake and frosting are complementary.

Answer:

True

Question 7