Info
Warning
Danger
/ Homework Answers / Economics / 61) An increase in the number of consumers in a

Question

 

 

61) An increase in the number of consumers in a market would cause

A) an increase in quantity demanded.

B) an increase in quantity supplied.

C) an increase in demand.

D) an increase in supply.

62) A shift in demand occurs when

A) the price of that good changes.

B) the amount demanded of a good changes at each existing price.

C) there is a change in quantity demanded.

D) the price changes and the good is a normal good.

 

63) If a bottled soft drink and bottled juice are substitutes, when the price of the bottled soft drink rises

A) demand for bottled juice rises.

B) demand for bottled juice falls.

C) quantity of bottled juice demanded falls.

D) quantity of bottled juice demanded rises.

 

64) When income falls

A) the demand for a normal goods rises.

B) the demand for an inferior goods rises.

C) there is a movement downward along the demand curve for a normal good.

D) there is a movement downward along the demand curve for an inferior good.

 

65) When income rises

A) demand for a normal good rises.

B) demand for a normal good falls.

C) demand for an inferior good rises.

D) quantity of a normal good demanded rises.

66) Which of the following factors will lead to a shift in the demand curve?

A) changes in the costs of inputs

B) changes in technology

C) changes in the price of the good

D) changes in consumers' tastes and preferences

 

67) The relationship between a change in the price of a complementary good and demand for another complementary good is

A) positive.

B) negative.

C) inconclusive.

D) zero.

 

68) Assuming coffee and cola are substitutes, if the price of coffee rises

A) there is a movement along the demand curve for cola.

B) the demand curve for coffee will shift to the right.

C) the demand curve for cola will shift to the right.

D) the demand curve for coffee will shift to the left.

 

69) Suppose that today, consumers expect the price of a gallon of gasoline to double in the future. Then today the gasoline

A) demand curve will shift to the right.

B) demand curve will shift to the left.

C) supply curve will shift to the right.

D) supply curve will shift to the left.

70) A shift in the demand curve will occur when

A) supply shifts.

B) the price of an input used to produce the good changes.

C) consumers' income changes.

D) the price of the product changes.

 

 

Solution
5 (1 Ratings )

Solved
Economics 3 Months Ago 2 Views
This Question has Been Answered!
Premium Content -

Unlimited Access

Explore More than 2 Million+
  • Textbook Solutions
  • Flashcards
  • Homework Answers
  • Documents
Signup for Better Grades!

Ask an Expert

Our Experts can answer your tough homework and study questions
112045 Economics Questions Answered!
Post a Question