16. Which of the following is the result of an increase in the price of bread, other things being equal?

a. A leftward shift in the demand curve for bread.

b. A downward movement along the demand curve for bread.

c. A rightward shift in the demand curve for bread.

d. An upward movement along the demand curve for bread.

17. The demand for a product might shift as the result of a change in:

a. Consumer tastes.

b. The price of related goods.

c. Consumer incomes.

d. All of the above.

18. Which of the following is a determinant of supply?

a. Price.

b. Tastes.

c. The number of buyers.

d. Technology.

19. Graphically, the market demand curve is:

a. Steeper than any individual demand curves comprising it.

b. Greater than the sum of the individual demand curves.

c. The horizontal sum of individual demand curves.

d. The vertical sum of individual demand curves.

20. Price floors to be effective result in:

a. Quantity demanded exceeding quantity supplied, resulting in shortages.

b. Quantity supplied exceeding quantity demanded, resulting in surpluses.

c. Market equilibrium, with no surpluses or shortages.

d. Quantity supplied exceeding quantity demanded, resulting in shortages.