A(n) ________ is represented by a rightward shift of the demand curve while
a(n) ________ is represented by a movement along a given demand curve. -
answer increase in demand; increase in quantity demanded
The phrase "demand has increased" means that - answer a demand curve
has shifted to the right
The law of demand implies, holding everything else constant, that as the
price of yogurt - answer increases, the quantity of yogurt demanded will
decrease
________ means the supply curve has shifted to the right, while ________ refers
to a movement along a given supply curve in response to an increase in
price. - answer An increase in supply; an increase in quantity supplied
A technological advancement would be represented by a movement from -
answer S1 to S2
Which of the following will not shift the demand curve for a good? - answer
an increase in the price of the good
Suppose that when the price of pickles decreases, Teddy increases his
purchase of ketchup. To Teddy, - answer pickles and ketchup are
complements
An increase in the price of a complement would be represented by a change
from - answer D2 to D1
In January, buyers of gold expect that the price of gold will fall in February.
What happens in the gold market in January, holding everything else
constant? - answer The demand curve shifts to the left
, If an increase in income leads to an increase in the demand for sushi, then
sushi is - answer a normal good
At a price of $25, how many units will be supplied? - answer 800
Assume that the graphs in this figure represent the demand and supply
curves for blu-ray discs. Which panel best describes what happens in this
market if there is a substantial increase in the price of blu-ray players? -
answer Panel D
An increase in the price of the product would be represented by a change
from - answer A to B
Which of the following would cause a decrease in the supply of peanut
butter? - answer an increase the price of peanuts
Which of the following would cause both the equilibrium price and
equilibrium quantity of oysters (assume that oysters are a normal good) to
decrease? - answer a decrease in consumer income
Assume that the graphs in this figure represent the demand and supply
curves for coffee. What happens in this market if buyers expect the price of
coffee to rise? - answer Panel C
At price of $5 - answer there is a shortage of 4 units
If the price is $25, - answer there is a surplus of 300 units
"Because Coke and Pepsi are substitutes, a decrease in the price of Pepsi will
cause the demand for Coke to decrease. This initial shift in demand for Coke
results in a lower price for Coke; this lower price will cause the demand curve
for Coke to shift to the left." Which of the following correctly comments on
a(n) ________ is represented by a movement along a given demand curve. -
answer increase in demand; increase in quantity demanded
The phrase "demand has increased" means that - answer a demand curve
has shifted to the right
The law of demand implies, holding everything else constant, that as the
price of yogurt - answer increases, the quantity of yogurt demanded will
decrease
________ means the supply curve has shifted to the right, while ________ refers
to a movement along a given supply curve in response to an increase in
price. - answer An increase in supply; an increase in quantity supplied
A technological advancement would be represented by a movement from -
answer S1 to S2
Which of the following will not shift the demand curve for a good? - answer
an increase in the price of the good
Suppose that when the price of pickles decreases, Teddy increases his
purchase of ketchup. To Teddy, - answer pickles and ketchup are
complements
An increase in the price of a complement would be represented by a change
from - answer D2 to D1
In January, buyers of gold expect that the price of gold will fall in February.
What happens in the gold market in January, holding everything else
constant? - answer The demand curve shifts to the left
, If an increase in income leads to an increase in the demand for sushi, then
sushi is - answer a normal good
At a price of $25, how many units will be supplied? - answer 800
Assume that the graphs in this figure represent the demand and supply
curves for blu-ray discs. Which panel best describes what happens in this
market if there is a substantial increase in the price of blu-ray players? -
answer Panel D
An increase in the price of the product would be represented by a change
from - answer A to B
Which of the following would cause a decrease in the supply of peanut
butter? - answer an increase the price of peanuts
Which of the following would cause both the equilibrium price and
equilibrium quantity of oysters (assume that oysters are a normal good) to
decrease? - answer a decrease in consumer income
Assume that the graphs in this figure represent the demand and supply
curves for coffee. What happens in this market if buyers expect the price of
coffee to rise? - answer Panel C
At price of $5 - answer there is a shortage of 4 units
If the price is $25, - answer there is a surplus of 300 units
"Because Coke and Pepsi are substitutes, a decrease in the price of Pepsi will
cause the demand for Coke to decrease. This initial shift in demand for Coke
results in a lower price for Coke; this lower price will cause the demand curve
for Coke to shift to the left." Which of the following correctly comments on
