Question :
101) If an increase in income leads to an decrease : 1245014
101) If an increase in income leads to an decrease in the demand for salami, then salami is
A) an inferior good.
B) a neutral good.
C) a necessity.
D) a normal good.
102) How has the growing popularity of factory outlet stores affected the market for clothing at retail department stores?
A) the demand curve for clothing at retail department stores shifts to the right.
B) the demand curve for clothing at retail department stores shifts to the left.
C) the supply curve for clothing at retail department stores shifts to the right.
D) the supply curve for clothing at retail department stores shifts to the left.
103) According to a recent study, “Stricter college alcohol policies, such as raising the price of alcohol, or banning alcohol on campus, decrease the number of students who use marijuana.” On the basis of this information, how would you describe alcohol and marijuana?
A) The two goods are substitutes in consumption.
B) There is no relationship between the two goods.
C) The two goods are complements in consumption.
D) They are both luxury goods.
104) If the price of propane-fueled gas grills was to decrease, then
A) the demand for propane would decrease.
B) the demand for propane would increase.
C) the quantity of propane demanded would increase.
D) the quantity of propane demanded would decrease.
105) If the price of smartphones was to increase, then
A) the demand for smartphone apps would decrease.
B) the demand for smartphone apps would increase.
C) the quantity of smartphone apps demanded would increase.
D) the quantity of smartphone apps demanded would decrease.
106) Suppose that when the price of hamburgers increases, the Ruiz family increases their purchases of hot dogs. To the Ruiz family
A) hamburgers and hot dogs are complements.
B) hamburgers and hot dogs are inferior goods.
C) hamburgers and hot dogs are normal goods.
D) hamburgers and hot dogs are substitutes.
107) Suppose that when the price of oranges decreases, the Sarita decreases her purchases of peaches. To Sarita
A) oranges and peaches are complements.
B) oranges and peaches are inferior goods.
C) oranges and peaches are normal goods.
D) oranges and peaches are substitutes.
108) Suppose that when the price of pickles decreases, Teddy increases his purchase of ketchup. To Teddy
A) pickles and ketchup are complements.
B) pickles and ketchup and substitutes.
C) pickles and ketchup are normal goods.
D) pickles are a normal good and ketchup is an inferior good.
109) Suppose that when the price of ice cream increases, Liza decreases her purchase of hot fudge. To Liza
A) ice cream and hot fudge are complements.
B) ice cream and hot fudge and substitutes.
C) ice cream and hot fudge are normal goods.
D) ice cream is a normal good and hot fudge is an inferior good.
110) Several studies have shown promising links between green tea consumption and cancer prevention. How does this affect the market for green tea?
A) The quantity of green tea demanded increases because of a change in tastes in favor of green tea.
B) The green tea demand curve shifts to the right because of a change in tastes in favor of green tea.
C) The green tea demand curve shifts to the left because this new information will increase the price of green tea.
D) The quantity of green tea demanded decreases because this new information will increase the price of green tea.
