Question : 41) Quantity demanded a flow variable, which means that it : 1384143

41) Quantity demanded is a flow variable, which means that it must be expressed

A) as so much at a specific moment in time.

B) in units of the good per day.

C) in units of the good per week.

D) in units of the good per year.

E) in units of the good per period of time.

42) Refer to Figure 3-1. If demand is given by the curve D, the ________ energy-efficient light bulbs is 200 000 at a price of $9.

A) demand for

B) quantity purchased of

C) demand schedule for

D) quantity demanded of

E) quantity sold of

43) Refer to Figure 3-1. The movement along the demand curve, D, from point v to point x, could be caused by

A) a change in preferences away from ordinary light bulbs to energy-efficient light bulbs.

B) a change in the price of energy-efficient light bulbs.

C) an increase in household income, which allows consumers to purchase more light bulbs.

D) a change in the price of ordinary light bulbs.

E) an expectation that new, government regulations will require the use of energy-efficient light bulbs only.

44) Refer to Figure 3-1. A shift of the demand curve for energy-efficient light bulbs from D to D2 could be caused by

A) an increase in the price of ordinary light bulbs.

B) a change in preferences away from ordinary bulbs to energy-efficient bulbs.

C) an expectation that new government regulation will require the use of energy-efficient light bulbs only.

D) a decrease in the price of energy-efficient light bulbs.

E) a news bulletin stating that energy-efficient light bulbs emit a harmful gas.

45) Refer to Figure 3-1.  A shift of the demand curve for energy-efficient light bulbs from D to could be caused by

A) a decrease in the price of ordinary light bulbs.

B) a news bulletin stating that energy-efficient light bulbs emit a harmful gas.

C) a decrease in the price of energy-efficient light bulbs.

D) an expectation that government regulation will soon prohibit the use of ordinary light bulbs.

E) a change in preferences toward ordinary light bulbs.

46) Suppose that the demand curves for goods A, B, and C have the following functional forms:, where Q denotes quantity demanded and P denotes price:

A) B and C

B) A and C

C) A and B

D) A and C, and B and C

E) none of the pairs are complements

47) Suppose that the demand curves for goods A, B, and C have the following functional forms:, where Q denotes quantity demanded and P denotes price:

A) A and C

B) A and B

C) B and C

D) A and C, and B and C

E) none of the pairs are substitutes

48) Suppose the demand curves for goods A, B, and C have the following functional forms, where Q denotes quantity demanded, P denotes price, and M denotes income:

A) A

B) B

C) C

D) A and B only

E) A, B and C

49) Suppose the demand curves for goods A, B, and C have the following functional forms, where Q denotes quantity demanded, P denotes price, and M denotes income:

A) A

B) B

C) C

D) A and B only

E) A, B and C

50) The positive slope of a supply curve indicates that

A) as price goes up, quantity supplied will decrease.

B) consumers will want to buy less at higher prices.

C) as price goes up, quantity supplied will increase.

D) if the costs of production increase, the quantity supplied will increase.

E) as price goes up, quantity supplied will remain constant.