Supply and demand question :

1. As the price of leather increases-

• The demand for leather shoes will increase
• the supply of leather shoes will increase
• the quantity demanded of leather shoes will decrease
• the price of leather shoes will decrease

1. If coffee and tea are substitutes and the supply of coffee increases, all of the following will result EXCEPT-

• the price of coffee will fall
• the quantity of tea purchased will rise
• the price of tea will fall
• the quantity of coffee purchased will rise

1. Buyers of Apple computer stock expect the price of apple stock to go up by 20% in the next six months. What will happen immediately from the point of view of buyers of Apple stock?

• the demand curve for apple stock will shift to the left
• the supply curve apple stock will shift to the left
• the demand curve for apple stock will shift to the right
• the supply curve for apple stock will shift to the right

1. The "Baby Boomers" who were born after WWII to the mid 1950's are all senior citizens. In general, what immediate effect did that have on the medical industry?

• price equilibrium will decrease and quantity equilibrium will increase.
• equilibrium quantity will increase and equilibrium price will increase
• price equilibrium will increase and quantity equilibrium will decrease
• price equilibrium will decrease and quantity equilibrium will decrease