ECON 2071 - A change in which of the following will NOT shift
Question # 00569033
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Updated on: 07/31/2017 01:28 PM Due on: 07/31/2017
- 1. A change in which of the following will NOT shift the demand curve for hamburgers?
- a. the price of hot dogs
- b. the price of hamburgers
- c. the price of hamburger buns
- d. the income of hamburger consumers
- 2. An increase in ________ will cause a movement along a given demand curve, which is called a change in ________.a. supply, demand
- b. supply, quantity demanded
- c. demand, supply
- d. demand, quantity supplied
- 3. Movie tickets and DVDs are substitutes. If the price of DVDs increases, what happens in the market for movie tickets?a. The supply curve shifts to the left.
- b. The supply curve shifts to the right.
- c. The demand curve shifts to the left.
- d. The demand curve shifts to the right.
- 4. The discovery of a large new reserve of crude oil will shift the ________ curve for gasoline, leading to a ________ equilibrium price.a. supply, higher
- b. supply, lower
- c. demand, higher
- d. demand, lower
- 5. If the economy goes into a recession and incomes fall, what happens in the markets for inferior goods?a. Prices and quantities both rise.
- b. Prices and quantities both fall.
- c. Prices rise, quantities fall.
- d. Prices fall, quantities rise.
- 6. Which of the following might lead to an increase in the equilibrium price of jelly and a decrease in the equilibrium quantity of jelly sold?a. an increase in the price of peanut better, a complement to jelly
- b. an increase in the price of Marshmallow Fluff, a substitute for jelly
- c. an increase in the price of grapes, an input into jelly
- d. an increase in consumers' incomes, as long as jelly is a normal good
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Solution: ECON 2071 - A change in which of the following will NOT shift