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51) When the price of a complement (cream) decreases, the demand for the related good (coffee)

A) will fall.

B) remains constant.

C) will shift outward.

D) will shift inward.

 

52) An expected future increase in the price of gasoline may

A) increase the demand for gasoline now.

B) decrease the demand for gasoline now.

C) increase the supply of gasoline now.

D) make gasoline an inferior good.

 

53) An expected increase in the future price of automobiles will lead to

A) an outward shift in demand for automobiles today.

B) a reduction in the demand for gasoline today.

C) a movement down the demand schedule for automobiles.

D) no predictable impact on today's demand for automobiles.

54) If consumers expect that the price of pretzels will decrease next week, what would happen today?

A) Demand today for pretzels would decrease.

B) Demand today for pretzels would increase.

C) Demand today for pretzels would be unaffected.

D) Supply today of pretzels would decrease.

 

55) Which of the following will cause a movement along the demand curve for shoes?

A) an increase in the price of socks

B) an increase in income

C) an increase in the price of shoes

D) all of the above

 

56) Which of the following will NOT cause a shift in the demand for rewriteable DVDs?

A) a change in taste

B) a change in income

C) a change in the price of rewriteable DVDs

D) a change in the price of rewriteable CDs

 

57) With reference to the difference between a change in demand and a change in quantity demanded, which of the following is TRUE?

A) If a good's price goes down, then demand for the good will decrease.

B) If a good's price goes down, then quantity demanded will increase.

C) If demand increases, then the demand curve will shift to the left.

D) If price rises and quantity demanded decreases, then the demand curve will shift to the left.

58) Which of the following does NOT cause a shift in demand?

A) change in income

B) change in tastes

C) change in the price of the good

D) change in the price of a related good

 

59) More cattle are found to have mad cow disease. As a result, consumer confidence in the safety of beef is shaken. What would an economist predict will happen in the beef market?

A) As consumer preferences move away from beef, there is an upward movement along the beef demand curve.

B) The demand curve will shift to the left.

C) The demand curve does not shift but consumers move to a point lower down the curve.

D) absolutely no change in either the quantity demand or the demand for beef

 

60) Suppose that a new study finds that eating more peanut butter will improve a person's health. As a result

A) the demand for peanut butter will fall.

B) the demand for peanut butter will rise.

C) the price of peanut butter will fall.

D) a smaller amount of peanut butter will be purchased.

 

 

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