Whenwemovealongagivendemandcurve,
A. only price is held constant.
B. income and price are held constant.
C. all nonprice determinants of demand are held constant.
D. all determinants of quantity demanded are held constant.
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Whenquantitydemandeddecreasesateverypossibleprice,thedemandcurvehas
A. shifted to the left.
B. shifted to the right.
C. not shifted; rather, we have moved along the demand curve to a new point on the same curve
D. not shifted; rather, the demand curve has become flatter.
Whichofthefollowingchangeswouldnotshiftthedemandcurveforagoodorservice?
A. a change in income
B. a change in the price of the good or service
C. a change in expectations about the future price of the good or service
D. a change in the price of a related good or service
Whichofthefollowingisnotadeterminantofthedemandforaparticulargood?
A. the prices of related goods
B. income
C. tastes
D. the prices of the inputs used to produce the good
IfMaxexperiencesadecreaseinhisincome,thenwewouldexpectMax’sdemandfor
A. each good he purchases to remain unchanged.
B. normal goods to decrease.
C. luxury goods to increase.
D. inferior goods to decrease.
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