A) a decrease in the price of gasoline
B) an increase in consumer income,assuming gasoline is a normal good
C) an increase in the price of cars,a complement for gasoline
D) a decrease in the expected future price of gasoline
F) A) and C)
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A) an increase in the price of cigarettes
B) placing a tax on cigarettes
C) the prohibition of cigarette advertisements on television
D) decreasing the price of marijuana,given that tobacco and marijuana are complements
F) A) and B)
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A) increase the supply of education.
B) decrease the supply of education.
C) increase the demand for education.
D) decrease the demand for education.
F) None of the above
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A) demand will increase.
B) demand will decrease.
C) supply will increase.
D) supply will decrease.
F) None of the above
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A) do not try to explain people's tastes,but they do try to explain what happens when tastes change.
B) believe that they must be able to explain people's tastes in order to explain what happens when tastes change.
C) do not believe that people's tastes determine demand,so they ignore the subject of tastes.
D) incorporate tastes into economic models only to the extent that tastes determine whether pairs of goods are substitutes or complements.
F) B) and D)
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A) price causes quantity demanded to increase.
B) price causes quantity demanded to decrease.
C) quantity demanded causes price to increase.
D) quantity demanded causes price to decrease.
F) None of the above
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A) income demand.
B) equilibrium demand.
C) complementary demand.
D) market demand.
F) A) and C)
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A) a movement along D2 from point A to point B
B) a movement along D2 from point B to point A
C) a shift from D1 to D2
D) a shift from D2 to D1
F) A) and B)
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A) increase demand.
B) decrease demand.
C) increase quantity demanded.
D) decrease quantity demanded.
F) A) and D)
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A) decreases.
B) increases.
C) remains constant,but we observe a movement downward and to the right along the demand curve.
D) remains constant,but we observe a movement upward and to the left along the demand curve.
F) None of the above
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Correct Answer
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