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
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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.
Twogoodsaresubstituteswhenadecreaseinthepriceofonegood
A. decreases the demand for the other good.
B. decreases the quantity demanded of the other good.
C. increases the demand for the other good.
D. increases the quantity demanded of the other good.
Alikelyexampleofsubstitutegoodsformostpeoplewouldbe
A. peanut butter and jelly.
B. tennis balls and tennis rackets.
C. televisions and subscriptions to cable television services.
D. pencils and pens.
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