Question : 72) Which of the following brings only an increase in : 1226438

72) Which of the following brings only an increase in the quantity demanded of a good?

A) a decrease in income, assuming the good is an inferior good

B) a rise in the price of a substitute good

C) a fall in the price of the good itself

D) an expectation that the good’s price will rise in the future

E) a decrease in income, assuming the good is a normal good

73) People consume more soup as temperatures falls. So, as cold weather approaches,

A) the quantity of soup demanded increases.

B) the demand for soup increases.

C) people move closer to their demand curve for soup.

D) people move farther beyond their demand curves.

E) both the demand and the quantity demanded of soup increase.

74) 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.

75) 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

76) 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

77) 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.

78) 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.

79) 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.

80) 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.