Which of the following would most likely cause the demand for veggi burgers to increase?
a. A decline in the price of veggie burger.
b. An increase in the price of tofu burgers, perceived as a substitute by veggie burger consumers.
c. An increase in the price of burger buns.
d. A technological innovation that lowers the cost of producing veggie burgers.
QUESTION 2Suppose the prices of petroleum products, including gasoline and fuel oil, fell sharply. Which of the following would most likely occur as the result of the lower prices of petroleum products?
a. A reduction in the consumption of gasoline.
b. An increase in demand for solar heating systems.
c. An increase in demand for smaller, more efficient automobiles.
d. A reduction in the demand for home insulation products.
QUESTION 3When economists say the demand for a product has increased, they mean the:
a. demand curve has shifted to the right.
b. price of the product has fallen, and consequently, consumers are buying more of it.
c. cost of producing the product has risen.
d. amount of the product that consumers are willing to purchase at various prices has decreased.
QUESTION 4Other things being equal, the effects of a decrease in the price of orange juice, is represented by which of the following?
a. A rightward shift in the demand curve for orange juice.
b. An increase in the quantity demanded for orange juice.
c. A leftward shift in the demand curve for orange juice.
d. A decrease in the quantity demanded orange juice.
QUESTION 5A decrease in the price of coffee, other things being equal, causes a(n):
a. leftward shift in the demand curve for coffee.
b. downward movement along the demand curve for coffee.
c. rightward shift in the demand curve for coffee.
d. upward movement along the demand curve for coffee.
QUESTION 6A rightward shift in the demand curve is called a(an):
a. decrease in output.
b. decrease in demand.
c. increase in demand.
d. increase in income.
QUESTION 7Which of the following best represents the effects of an increase in the price of coffee, other things being equal?
a. A leftward shift in the demand curve for coffee.
b. A downward movement along the demand curve for coffee.
c. A rightward shift in the demand curve for coffee.
d. An upward movement along the demand curve for coffee.
QUESTION 8Which of the following best represents the effects of a decrease in the price of coffee, other things being equal?
a. A leftward shift in the demand curve for coffee.
b. A downward movement along the demand curve for coffee.
c. A rightward shift in the demand curve for coffee.
d. An upward movement along the demand curve for coffee.
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