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3 0 ) An increase the expected future price of a good A ) increases its demand. B ) decreases its demand. C ) increases
An increase the expected future price of a good
A increases its demand.
B decreases its demand.
C increases its supply.
D has no effect on either its demand or its supply.
If consumers but not producers expect that the price of soda will rise in November, the
A supply of soda in October will increase.
B demand for soda in October will decrease.
C demand for soda in October will increase.
D supply of soda in October will decrease.
Which of the following shifts the demand curve for movie downloads rightward?
A a decrease in the price of downloading a movie
B a percent increase in people's income if movie downloads are a normal good
C a decrease in the price of cable television service
D an increase in the quantity and quality of programming included in the basic cable television service package
If macaroni and cheese is an inferior good, an increase in income will
A not affect the demand for macaroni and cheese.
B decrease the demand for macaroni and cheese.
C increase the demand for macaroni and cheese.
D create no income effect.
Which of the following shifts the supply curve rightward?
A an increase in the population
B a positive change in preferences for the good
C a decrease in the price of the good
D a decrease in the price of a factor of production used to produce the good
Auto workers negotiate a wage increase. How does this wage hike affect the supply of cars?
A It decreases the supply.
B It increase the supply.
C It has no effect.
D There is not enough information to tell if the change increases, decreases, or has no effect on the supply of cars.
Good A and good B are substitutes in production. The demand for good A increases so that the price of good A rises. The increase in the price of good A shifts the
A demand curve for good B leftward.
B demand curve for good B rightward.
C supply curve of good B leftward.
D supply curve of good B rightward.
A bakery can produce either cakes or cookies. If the price of cookies rises, then
A the supply curve of cake shifts leftward.
B the supply curve of cake shifts rightward.
C there is a movement downward along the supply curve of cakes.
D there is a movement upward along the supply curve of cakes.
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