Question :
11) The law of demand implies that, other things remaining : 1239019
11) The law of demand implies that, other things remaining the same,
A) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded increases.
B) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded decreases.
C) as income increases, the quantity of cheeseburgers demanded increases.
D) as the demand for cheeseburgers increases, the price of a cheeseburger falls.
E) as more people demand cheeseburgers, the quantity demanded increases.
12) An increase in the quantity demanded is shown as
A) a movement along the demand curve.
B) a movement toward the demand curve.
C) a rightward shift of the demand curve.
D) a leftward shift of the demand curve.
E) both a movement along the demand curve and a shift of the demand curve.
13) Which of the following results in a movement upward along the demand curve for movies?
A) an increase in the price of movie tickets
B) a decrease in the price of movie tickets
C) an increase in income, assuming that movies are a normal good
D) a decrease in income, assuming that movies are a normal good
E) a decrease in the price of NetFlix, a substitute for movies
14) Which of the following is true regarding demand?
i.Demand is the relationship between quantity demanded and the price of a good when all other influences on buying plans remain the same.
ii.Demand refers to one quantity at one time.
iii.”Demand” and “quantity demanded” are the same thing.
A) i only
B) ii only
C) both i and ii
D) iii only
E) both ii and iii
15) The price of cotton clothing falls. As a result,
A) the quantity demanded of cotton clothing increases.
B) the demand for cotton clothing increases.
C) the quantity demanded of cotton clothing decreases.
D) the demand for cotton clothing decreases.
E) both the demand for cotton clothing increases and the quantity demand of cotton clothing increases.
16) The American Dairy Association starts a highly successful advertising campaign that makes most people want to drink more milk. As a result,
A) the demand for milk increases.
B) the quantity demanded of milk increases.
C) the price of milk falls to encourage people to drink more milk.
D) the demand for milk is not affected.
E) the demand for milk decreases because the price of milk rises.
17) A demand schedule shows
A) the quantities that people plan to buy in all possible circumstances.
B) the quantities that people plan to buy at each different price when all other influences on buying plans remain the same.
C) the quantities that people would plan to buy if they could afford them at each different price when all other influences on buying plans remain the same.
D) the quantities that people plan to buy at each different income when all other influences on buying plans remain the same.
E) the quantities that people plan to buy at each different price as long as producers are willing to supply that quantity.
18) A demand schedule
A) shows the quantity demanded at one price.
B) is a graph showing a relationship between the quantity demanded and the price of a good.
C) is a list of the quantities demanded at each different price when all other influences on buying plans remain the same.
D) shows that demand is on schedule.
E) shows how the demand changes when the supply changes.
19) The downward slope of a demand curve
A) represents the law of demand.
B) shows that as the price of a good rises, consumers increase the quantity they demand.
C) indicates how the quantity demanded changes when incomes rise and the good is a normal good.
D) indicates how demand changes when incomes rise and the good is a normal good.
E) indicates how demand changes when the price changes and the good is a normal good.
20) A demand curve
A) has an upward slope.
B) has a downward slope.
C) is a graph of the relationship between quantity demanded of a good and its price.
D) Both answers B and C are correct.
E) Both answers A and C are correct.
