Question : 81) The impact of an increase in the price of : 1240799

81) The impact of an increase in the price of a particular good is illustrated as a

A) leftward shift in its demand curve.

B) rightward shift in its demand curve.

C) movement upward and to the left along its demand curve.

D) movement downward and to the right along its demand curve.

E) rightward shift in its demand curve and a movement upward and to the left along its demand curve.

82) Which of the following events will increase the quantity demanded of bottled water?

A) a fall in the price of soda

B) a rise in the price of a fitness club membership

C) an increase in the number of buyers of bottled water

D) a fall in the price of bottled water

E) a rise in the price of bottled water

83) The table above gives the demand schedule for lattes at the Bottomless Cup. If the price of a latte is $3, then the quantity of lattes demanded is ________ an hour.

A) 90

B) 30

C) 80

D) 60

E) 230

84) Other things remaining the same, the quantity of a good or service demanded will increase if the price of the good or service

A) rises.

B) falls.

C) does not change.

D) rises or does not change.

E) rises or falls.

85) The “law of demand” indicates that if the University of Maine increases tuition, all other things remaining the same,

A) the demand for classes will decrease at the University of Maine.

B) the demand for classes will increase at the University of Maine.

C) the quantity of classes demanded will increase at the University of Maine.

D) the quantity of classes demanded will decrease at the University of Maine.

E) both the demand for and the quantity of classes demanded will decrease at the University of Maine.

86) The graph illustrates the demand for peanuts. Peanuts are a normal good because the

A) demand curve for peanuts slopes downward.

B) demand for peanuts increases when income increases.

C) demand for peanuts increases when the price of one of its substitutes rises.

D) peanuts have both substitutes and complements.

E) demand curve shows that if the price of peanuts rises, there is a movement along the demand curve to a lower quantity demanded.

87) A normal good is defined as a good

A) with a downward sloping demand curve.

B) for which demand increases when the price of a substitute rises.

C) for which demand increases when income increases.

D) for which demand increases when the number of demanders increases.

E) for which demand increases when the price of a complement falls.

88) Soda and peanuts are complements. Other influences on buying plans remaining the same, a rise in the price of soda

A) increases the demand for peanuts.

B) decreases the demand for peanuts.

C) decreases the demand for soda.

D) increases the demand for soda.

E) has no effect on the demand for peanuts, though it does change the quantity demanded of peanuts.

89) People come to expect that the price of a gallon of gasoline will rise next week. As a result,

A) today’s supply of gasoline increases.

B) today’s demand for gasoline increases.

C) the price of a gallon of gasoline falls today.

D) next week’s supply of gasoline decreases.

E) today’s demand for gasoline and today’s supply of gasoline do not change.

90) One reason the demand for laptop computers might increase is a

A) fall in the price of a laptop computers.

B) fall in price of desktop computers.

C) change in preferences as laptops have become more portable, with faster processors and larger hard drives.

D) poor quality performance record for laptop computers.

E) decrease in income if laptops are a normal good.