Answer:
Substitutes are goods where you can consume one in place of the other.
Explanation:
The prices of complementary or substitute goods also shift the demand curve. When the price of a good that complements a good decreases, then the quantity demanded of one increases and the demand for the other increases.
<u>The correct order for the steps that show how contractionary fiscal policies work would be the following</u>:
-Government increases tax rate
-Inflationary pressure decreases
-Consumers have less money to spend
-Producers manufacture fewer goods
Contractionary monetary policy is often applied <u>when the economy is suffering from inflationary pressure</u>. The central bank (U.S. Federal Reserve) will <u>slow down the monetary supply</u>. In turn, this raises the cost of borrowed money, which <u>decreases Gross Domestic Product and inflation</u>. Some negative side effects could be a higher unemployment rate.
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Many colonists were unhappy because they did not have self government, this meant that they could not govern themselves and make their own laws.
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