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.
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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.
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.
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