Question : 41) Tomas increased his consumption of potato chips when the : 1387364

41) Tomas increased his consumption of potato chips when the price of pistachios increased. For Tomas, potato chips and pistachios are

A) substitutes in consumption.

B) both inferior goods.

C) complements in consumption.

D) both luxury goods.

42) If the price of automobiles was to increase, then

A) the demand for gasoline would decrease.

B) the demand for gasoline would increase.

C) the supply of gasoline would increase.

D) the quantity demanded of gasoline would decrease.

43) If the price of music downloads was to decrease, then

A) the demand for MP3 players would decrease.

B) the demand for MP3 players would increase.

C) the supply of MP3 players would increase.

D) the quantity demanded of MP3 players would decrease.

44) Suppose that when the price of raspberries increases, Lonnie increases his purchases of papayas. To Lonnie,

A) raspberries and papayas are complements.

B) raspberries and papayas are inferior goods.

C) raspberries and papayas are normal goods.

D) raspberries and papayas are substitutes.

45) Suppose that when the price of hamburgers decreases, the Ruiz family increases their purchases of ketchup. To the Ruiz family,

A) hamburgers and ketchup are complements.

B) hamburgers and ketchup and substitutes.

C) hamburgers and ketchup are normal goods.

D) hamburgers are normal goods and hot dogs are inferior goods.

46) Studies have shown links between calcium consumption and a reduction in osteoporosis. How does this affect the market for calcium?

A) The calcium supply curve shifts to the right because of a change in tastes in favor of calcium.

B) The calcium demand curve shifts to the right because of a change in tastes in favor of calcium.

C) The calcium demand curve shifts to the left because this new information will increase the price of calcium.

D) The calcium supply curve shifts to the left because this new information will increase the price of calcium.

47) Technological advances have resulted in lower prices for digital cameras. What is the impact of this on the market for traditional (non-digital) cameras?

A) The demand curve for traditional cameras shifts to the right.

B) The supply curve for traditional cameras shifts to the right.

C) The demand curve for traditional cameras shifts to the left.

D) The supply curve for traditional cameras shifts to the left.

48) How does the increasing use of MP3 players affect the market for compact discs?

A) The demand curve for compact discs shifts to the right.

B) The supply curve for compact discs shifts to the left.

C) The supply curve for compact discs shifts to the right.

D) The demand curve for compact discs shifts to the left.

49) Technological advancements have led to lower prices and an increase in the sale of digital cameras. How does this affect the digital photo printing paper market?

A) The demand curve for digital photo printing paper shifts to the right.

B) The demand curve for digital photo printing paper shifts to the left.

C) The supply curve for digital photo printing paper shifts to the right.

D) The supply curve for digital photo printing paper shifts to the left.

50) Buyers rush to purchase stocks in California vineyards following a forecast of a 30 percent decline in this year’s grape harvest. What happens in the California wine market as a result of this announcement?

A) The demand curve for California wine shifts to the left in anticipation of higher prices in the future.

B) The demand curve for California wine shifts to the right in anticipation of higher prices in the future.

C) The supply curve for California wine shifts to the right in anticipation of higher prices in the future.

D) The supply curve for California wine shifts to the left in anticipation of lower quantities in the future.