Question : 61.An expectation of increased prices of a good in the : 1378996

61.An expectation of increased prices of a good in the future is likely to:

A. increase current demand.

B. decrease current demand.

C. have no impact on current demand.

D. only affect seller’s decisions.

62.You just heard about Burton’s annual tent sale going on next week. This will likely cause your demand for a Burton jacket today to:

A. increase because of your income constraint.

B. increase because of your expectations of the price of Burton jackets next week.

C. decrease because of your income constraint.

D. decrease because of your expectations of the price of Burton jackets next week.

63.The baby boomer generation is just starting to retire, and waiting lists to get into nursing homes are on the rise. We could reasonably expect:

A. the demand for geriatric care to increase due to the number of buyers increasing.

B. the demand for geriatric care to decrease due to the number of buyers increasing.

C. the demand for geriatric care to increase due to expectations of future prices.

D. the demand for geriatric care to decrease due to expectations of future prices.

64.What happens to the demand curve when a nonprice determinant of demand changes?

A. The demand curve shifts horizontally.

B. There is a movement along the demand curve.

C. The consumer moves to a different price point.

D. Nothing changes in this situation.

65.There has been a decrease in the demand for socks. This change can be shown graphically as:

A. a shift in the demand curve to the right.

B. a shift in the demand curve to the left.

C. a movement along the demand curve to the right.

D. a movement along the demand curve to the left.

66.There has been an increase in the demand for chicken. This change can be shown graphically as:

A. a shift in the demand curve to the right.

B. a shift in the demand curve to the left.

C. a movement along the demand curve to the right.

D. a movement along the demand curve to the left.

67.The price of house paint, a normal good, has gone up. This change can be shown graphically as:

A. a shift in the demand curve to the right.

B. a shift in the demand curve to the left.

C. a movement along the demand curve to the right.

D. a movement along the demand curve to the left.

68.The price of dog collars, a normal good, has gone down. This change can be shown graphically as:

A. a shift in the demand curve to the right.

B. a shift in the demand curve to the left.

C. a movement along the demand curve to the right.

D. a movement along the demand curve to the left.

69.Roy just got a big promotion at work which includes a sizable pay increase. Roy’s demand for Ramen Noodles, an inferior good, will likely:

A. decrease, and his demand curve will shift to the right.

B. decrease, and his demand curve will shift to the left.

C. decrease, and his demand curve will shift straight down.

D. decrease, causing a movement down along his demand curve.

70.Ray’s company just announced everyone will be getting their pay cut by 5% in order to avoid having to close down. Ray’s demand for coffee, a normal good, will likely:

A. decrease, and his demand curve will shift to the right.

B. decrease, and his demand curve will shift to the left.

C. increase, and his demand curve will shift to the right.

D. increase, and his demand curve will shift to the left.