Three of the four events described below might reasonably be expected to shift the demand curve for ...

Three of the four events described below might reasonably be expected to shift the demand curve for beef to a new position. One would not shift that demand curve. The single exception is a(n):
 a. change in people's tastes for beef.
  b. increase in the money incomes of beef consumers.
  c. fall in the price of beef.
  d. change in the price of a product competitive with beef (e.g. pork).

QUESTION 2

Which of the following would cause a shift in the demand curve for a good?
 a. An increase in consumers' income.
  b. A decrease in the number of consumers.
  c. The expectation that the price of a good will increase in the future.
  d. All of these.

QUESTION 3

An increase in demand:
 a. results in a leftward shift of the demand curve.
  b. could be caused by a decrease in the price of the good.
  c. could be caused by an increase in the price of a substitute good.
  d. is shown as movement down along a demand curve.

QUESTION 4

In economic terms, to say that there has been an increase in demand for a product means that:
 a. the demand curve has shifted to the left.
  b. the product's price has fallen and as a result consumers are buying a larger quantity of the product.
  c. the product has become scarce for some reason.
  d. consumers are now willing to purchase more of the product at each possible price.

QUESTION 5

Which of the following would shift the demand curve for autos to the right?
 a. A fall in the price of autos. b. A fall in the price of auto insurance.
  c. A fall in consumers' incomes. d. A fall in the price of steel.

QUESTION 6

Which of the following will increase the demand for motorcycles?
 a. A fall in the price of motorcycles.
  b. A fall in insurance rates for motorcycles.
  c. A fall in the price of automobiles.
  d. A fall in buyers' incomes (assuming motorcycles are a normal good).
  e. A fall in consumer preference for motorcycles.