Question

1) Which of the following describes the law of demand? When other things remain the same, as A) your income increases, you'll buy more hamburgers. B) more people decide to eat pizza, the demand for pizza increases. C) the price of gas falls, the quantity demanded of gas increases. D) the quantity demanded of bread increases, the price of bread falls. 2) An increase in the quantity demanded is shown as a A) leftward shift of the demand curve. C) movement toward the demand curve. 1) 2) B) movement along the demand curve. D) rightward shift of the demand curve. Refer to the information provided in Figure 3.1 below to answer the questions that follow. $ Price per bottle 0 Bottles of Dr. Pepper per week Figure 3.1 3) Refer to Figure 3.1. Which of the following would be most likely to cause the demand for Dr. Pepper to shift from $D_0$ to $D_1$? A) an increase in income, assuming that Dr. Pepper is a normal good B) a decrease in the price of 7-UP, assuming 7-UP is a substitute for Dr. Pepper C) an increase in the price of sugar used to make Dr. Pepper D) an increase in the price of Dr. Pepper 3)

          1) Which of the following describes the law of demand? When other things remain the same, as
A) your income increases, you'll buy more hamburgers.
B) more people decide to eat pizza, the demand for pizza increases.
C) the price of gas falls, the quantity demanded of gas increases.
D) the quantity demanded of bread increases, the price of bread falls.
2) An increase in the quantity demanded is shown as a
A) leftward shift of the demand curve.
C) movement toward the demand curve.
1)
2)
B) movement along the demand curve.
D) rightward shift of the demand curve.
Refer to the information provided in Figure 3.1 below to answer the questions that follow.
$ 
Price per bottle
0
Bottles of Dr. Pepper
per week
Figure 3.1
3) Refer to Figure 3.1. Which of the following would be most likely to cause the demand for Dr. Pepper to
shift from $D_0$ to $D_1$?
A) an increase in income, assuming that Dr. Pepper is a normal good
B) a decrease in the price of 7-UP, assuming 7-UP is a substitute for Dr. Pepper
C) an increase in the price of sugar used to make Dr. Pepper
D) an increase in the price of Dr. Pepper
3)

1) Which of the following describes the law of demand? When other things remain the same, as
A) your income increases, you'll buy more hamburgers.
B) more people decide to eat pizza, the demand for pizza increases.
C) the price of gas falls, the quantity demanded of gas increases.
D) the quantity demanded of bread increases, the price of bread falls.
2) An increase in the quantity demanded is shown as a
A) leftward shift of the demand curve.
C) movement toward the demand curve.
1)
2)
B) movement along the demand curve.
D) rightward shift of the demand curve.
Refer to the information provided in Figure 3.1 below to answer the questions that follow.
Price per bottle
0
Bottles of Dr. Pepper
per week
Figure 3.1
3) Refer to Figure 3.1. Which of the following would be most likely to cause the demand for Dr. Pepper to
shift fromD0toD1?
A) an increase in income, assuming that Dr. Pepper is a normal good
B) a decrease in the price of 7-UP, assuming 7-UP is a substitute for Dr. Pepper
C) an increase in the price of sugar used to make Dr. Pepper
D) an increase in the price of Dr. Pepper
3)

Added by Christine Z.

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