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--'' ' 'l' '-'' ' -'-' ' Y.. . Part I: Yes/No-Questions (Fill the blank with Yes or No;1*10 = 10 Points)

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\"-"-"''" ' \""" "'l"' \"'-'"'" " "' "" "-'-'"" ""'" "Y.. . Part I: Yes/No-Questions (Fill the blank with "Yes" or \"No";1*10 = 10 Points) 1. The law of demand simply states that the lower the price of a product, the less amount that consumers are willing to buy. ( ) 2. The availability of substitutes affects the slope of the demand curve. () 3. Generally, a change in the price of a good cause a movement along a demand curve, while a change in any other factor besides the price the good causes a shift of the demand curve. ( ) 4. An decrease in the price of lamb will shift in the demand curve for steak. ( ) 5. An increase in wages paid to coal miners will shift out the supply curve for coal. ( ) 6. The imposition of a $6 per ton tax on coal will shift out the supply curve for coal. ( )

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