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91) Morgan graduates from college and gets a job paying $50,000 a year. While in school, she consumed 4 pounds of chicken and 1 pound of shrimp a month. After she starts work, she consumes 2 pounds of chicken and 3 pounds of shrimp a month. If everything else is held constant, we know that

A) chicken and shrimp are normal goods for Morgan.

B) chicken is an inferior good and shrimp is a normal good for Morgan.

C) chicken is an inferior good for Morgan.

D) shrimp is a normal good for Morgan.

92) After the price of milk increases, David buys more eggs and less cereal. For David

A) milk, eggs, and cereal are all complements.

B) milk and eggs are complements, and milk and cereal are substitutes.

C) milk and eggs are substitutes, and milk and cereal are complements.

D) milk, eggs, and cereal are all substitutes.

 

93) When a rise in the price of one item results in a decrease in the demand for another good, then the two goods are

A) substitute goods.

B) complementary goods.

C) inferior goods.

D) satisfying the law of supply.

 

94) A decrease in quantity demanded of a good is caused by

A) a decrease in income.

B) a decrease in the price of a substitute.

C) an increase in the price of the good.

D) a change of tastes.

 

95) Kariuki decreases his consumption of grapes after his income goes up. For Kariuki

A) grapes and income are substitute goods.

B) grapes and income are complementary goods.

C) grapes are an inferior good.

D) grapes are a superior good.

96) Mary increases her consumption of Good X after the price of Good Y decreased. For Mary

A) Good X and Good Y are substitutes.

B) Good X and Good Y are complements.

C) Good X is an inferior good.

D) Good Y is an inferior good.

 

97) Mary decreases her consumption of Good X after the price of Good Y decreased. For Mary

A) Good X and Good Y are substitutes.

B) Good X and Good Y are complements.

C) Good X is an inferior good.

D) Good Y is an inferior good.

 

98) John increases his consumption of Good X and Good Y when his income increases. For John

A) Good X and Good Y are substitute goods.

B) Good X and Good Y are complement goods.

C) Good X is an inferior good.

D) Good X and Y are normal goods

 

99) All of the following are non-price determinants of demand EXCEPT

A) price of related goods.

B) price of raw materials used in production of the good.

C) income.

D) number of consumers.

100) Assuming that turkey, chicken, pork, and beef are substitutes, suppose that the price of turkey has fallen. This will, other things being equal

A) reduce demand for chicken, pork, and beef.

B) leave demand for chicken, pork, and beef unchanged.

C) increase demand for chicken, pork, and beef.

D) increase quantity demanded of beef.

 

 

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