Question : 31) Ceteris paribus, the position of the demand curve for : 1384142

 

31) Ceteris paribus, the position of the demand curve for apples will remain unchanged if there is a change in the

A) income of apple eaters.

B) price of apples.

C) hourly wage rate of most workers.

D) price of pears.

E) knowledge regarding the health benefits of eating fresh fruit.

32) A variable that is assumed to be constant along an individual’s demand curve for good X is the

A) price of good X.

B) quantity of X demanded per unit of time.

C) price of a substitute good, Y.

D) amount of X the individual wishes to purchase.

E) consumer’s real purchasing power.

33) “Demand” in a particular market refers to

A) only the quantity demanded by households at current market prices.

B) the quantity purchased at the current market price.

C) the quantity that is desired but not satisfied by current supply.

D) the entire relationship between quantity demanded and price.

E) the relationship between demand and supply.

34) A change in which of the following variables will result in NO change in the demand for a given commodity?

A) average household income

B) the distribution of income

C) population

D) tastes in favour of the commodity

E) the price of the commodity

35) When deriving the market demand curve for a commodity, the only variable(s) that can change is (are) the

A) price of a related commodity.

B) income of consumers.

C) quantity of the commodity demanded.

D) price of the commodity.

E) both C and D.

36) Which of the following would cause a movement along the demand curve for ski-lift tickets, other things being equal?

A) a change in tastes in favour of skiing

B) an increase in price as the supply curve for lift tickets shifts to the left

C) a rise in the price of ski boots and skis

D) a rise in average household income

E) an increase in population

37) Consider the following two statements. (1) An increase in the price of eggs will cause a decrease in the demand for eggs. (2) An increase in the price of eggs will cause a decrease in the demand for bacon. In which of these two statements is the term “demand” used correctly?

A) neither statement

B) the first statement only

C) the second statement only

D) both statements

E) more information is needed

38) Suppose new medical research suggests that consuming 200 grams of tofu everyday helps to prevent heart disease. Widespread knowledge of this research, other things being equal, is likely to have what impact on the market for tofu?

A) shift the whole demand curve to the right

B) shift the whole demand curve to the left

C) movement along the demand curve to the right

D) movement along the demand curve to the left

E) there would likely be no effect.

39) Economists say there has been a change in demand when there is

A) a movement along the demand curve.

B) a shift of the demand curve.

C) a shift of the supply curve.

D) a price change.

E) a quantity change.

40) Which of the following events would result in a change in the quantity demanded for some commodity but NOT a change in the demand for that commodity?

A) a change in average household income

B) a change in the distribution of income

C) a change in population

D) a change in tastes in favour of the commodity

E) a change in the price of the commodit

 

 

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