Recent research suggested that there are large health benefits from consuming cooked tomatoes. Holding other things constant, this will cause
a. The demand curve for tomatoes to shift to the right
b. The demand curve for tomatoes to shift to the left
c. The supply curve for tomatoes to shift to the right
d. The supply curve for tomatoes to shift to the left
QUESTION 2A random variable is
a. A variable that takes of values that are uncertain
b. A variable that takes on known values
c. A variable that is always zero
d. A variable that takes on null values only
QUESTION 3The change in quantity demanded derived from a change in price is
a. the movement along a demand curve
b. the movement along a supply curve
c. a shift in the demand curve
d. a shift in the supply curve
QUESTION 4Four possibilities have probabilities 0.4, 0.2, 0.2 and 0.2 and values 80, 30, 0, and -80 respectively. The expected value is:
a. 22
b. 24
c. 26
d. 28
QUESTION 5A recent medical study shows that peanuts are one of the leading causes of high cholesterol. This would cause the demand for peanuts to
a. Shift to the left
b. Shift to the right
c. go down the demand curve
d. not change
QUESTION 6Four possibilities have probabilities 0.4, 0.2, 0.2 and 0.2 and values 40, 30, 20, and 10 respectively. The expected value is:
a. 22
b. 24
c. 26
d. 28
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