ly and Demand Mi × | Q foon 102 Exam 1 Flashcard: Q MACRO[CON 2013 Flasha C Cheg
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ly and Demand Mi × | Q foon 102 Exam 1 Flashcard: Q MACRO[CON 2013 Flasha C Chegg Study Guided SolutECON101E1 FA& My.con atept225739 odle2018 MOODLEMOODLE DOCS RESOURCES FACULTY COURSE REQUESTSTUDEN OURCES STUDENT HELP REQUES My courses ECON101-E1 Survey of Economics FA18 / September 17-September 23/Supply and Demand Multiple Choice Assignment Which of the tolowing could resut in a movement along, but not a shit of, the supply curve for shredded wheat breakfast cereal? Select one O a All of the choices. O b. Perfect weather conditions that resulted in a large wheat crop. .Afall inte price of shredded wheat breakfast cereal. O d. An increase in the cost of machinery used to shred the wheat. An increase in the number of fast-food restaurants Select one O a Raises the price of fast-food restaurants b.increases the supply of fastlood meals O c. Increases the demand for substitutes for fast-food meals d. Increases the demand for tast-tood meals Assume that eggnog and cookies are complements. if the price of eggnog goes up, what happens to the demand for cookles? Select one e here to search F8 F11 8 4 5 6Explanation / Answer
Which of the following could result in a movement along, but not a shift of, shredded wheat breakfast cereal ?
Ans: C. A fall in the price of shredded wheat breakfast cereal
An increase in the number of fast-food restaurants
Ans: b. increases the supply of fast food meals
Assume that eggnog and cookies are compliment, if the price of eggnog goes up, what happens for the demnd for cookies
Ans: b. demand for cookies decreases.
Suppose frosty pops cereal is an inferior good, an increase in income
Ans: b. leads to a decrease in the demand for frosty pops cereal
Over the past decades, technological improvements have lowered the cost of producing an automobile have increased
Ans: c. both the demand and supply for automobiles
The law of demand concludes that a rise in the price of skates______the quantity demanded and _____
Ans: b. decrease, a movement up along the demnd curve for skates
Which of the following would not shift the demand curve for turkey ?
Ans: c. A change in the price for turkey
Which of the following increases the demnd for a product ?
Ans: a and d both are right
A decrease in the expected future price of cars
Ans: b. Decreases the current demand for cars, that is there is a left ward shift of the demand curve for cars.
Which of the following statements describe a change in quantity supplied and which describes a change in supply ?
Ans: a. I and IV are changes in supply and II and III are changes in quantity supplied.
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