Economy Worksheets With Answer Key Page 4
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16Practice Questions Week 2 Day 2
Multiple Choice
Identify the choice that best completes the statement or answers the question.
____
1. Which of the following statements about demand is correct?
a.
A change in the price of bicycles will not lead to a shift of the demand curve for bicycles.
b.
A change in the price of automobiles will lead to a shift of the demand curve for
motorcycles.
c.
A change in demand is equivalent to a movement along a given demand curve.
d.
When price falls, so does the quantity demanded.
e.
When the demand curve shifts to the right, so will the supply curve.
____
2. A decrease in the price of a particular good, with all other variables constant, causes
a.
a shift to a different demand schedule with higher quantities demanded
b.
a shift to a different demand schedule with lower quantities demanded
c.
a movement along a given demand curve to a lower quantity demanded
d.
a movement along a given demand curve to a higher quantity demanded
e.
no movement along a given demand curve unless supply also changes
____
3. Which of the following could explain a movement from point F to point G in Figure 3-2? Assume that the
good represented is an inferior good.
a.
all of the following are correct
b.
an increase in buyers' incomes
c.
a decrease in the expected future price of the good
d.
an increase in the price of the good
e.
an increase in the price of a complement
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