Question :
101.If macaroni and cheese an inferior good, then an increase : 1485227
101.If macaroni and cheese is an inferior good, then an increase in
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a. |
the price will cause the demand curve for macaroni and cheese to shift to the left. |
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b. |
the price will cause the demand curve for macaroni and cheese to shift to the right. |
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c. |
a consumer’s income will cause the demand curve for macaroni and cheese to shift to the left. |
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d. |
a consumer’s income will cause the demand curve for macaroni and cheese to shift to the right. |
102.Two goods are substitutes when a decrease in the price of one good
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a. |
decreases the demand for the other good. |
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b. |
decreases the quantity demanded of the other good. |
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c. |
increases the demand for the other good. |
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d. |
increases the quantity demanded of the other good. |
103.Suppose that a decrease in the price of good X results in fewer units of good Y being demanded. This implies that X and Y are
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a. |
complementary goods. |
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b. |
normal goods. |
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c. |
inferior goods. |
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d. |
substitute goods. |
104.Good X and good Y are substitutes. If the price of good Y increases, then the
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a. |
demand for good X will decrease. |
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b. |
quantity demanded of good X will decrease. |
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c. |
demand for good X will increase. |
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d. |
quantity demanded of good X will increase. |
105.A likely example of substitute goods for most people would be
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a. |
peanut butter and jelly. |
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b. |
tennis balls and tennis rackets. |
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c. |
televisions and subscriptions to cable television services. |
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d. |
pencils and pens. |
106.If muffins and bagels are substitutes, a higher price for bagels would result in a(n)
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a. |
increase in the demand for bagels. |
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b. |
decrease in the demand for bagels. |
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c. |
increase in the demand for muffins. |
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d. |
decrease in the demand for muffins. |
107.You wear either shorts or sweatpants every day. You notice that sweatpants have gone on sale, so your demand for
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a. |
sweatpants will increase. |
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b. |
sweatpants will decrease. |
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c. |
shorts will increase. |
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d. |
shorts will decrease. |
108.If American cheese and cheddar cheese are substitutes, then which of the following would increase the demand for cheddar cheese?
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a. |
a decrease in the price of cheddar cheese |
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b. |
an increase in the price of American cheese |
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c. |
a decrease in the price of American cheese |
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d. |
Both a) and b) are correct. |
109.Two goods are complements when a decrease in the price of one good
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a. |
decreases the quantity demanded of the other good. |
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b. |
decreases the demand for the other good. |
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c. |
increases the quantity demanded of the other good. |
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d. |
increases the demand for the other good. |
110.If goods A and B are complements, then an increase in the price of good A will result in
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a. |
more of good A being sold. |
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b. |
more of good B being sold. |
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c. |
less of good B being sold. |
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d. |
no difference in the quantity sold of either good. |
