Questions
Academic Courses Test#1
Single choice
Which of the following will not cause the demand for milk (a normal good) to increase in the current time period?
Options
A.a. an increase in income
B.b. a decrease in the price of cookies (a complement)
C.c. an expected increase in milk prices
D.d. a fall in the price of milk
E.e. an increase in the price of soy milk (a substitute)
View Explanation
Verified Answer
Please login to view
Step-by-Step Analysis
Question restatement: Which of the following will not cause the demand for milk (a normal good) to increase in the current time period?
Option a: an increase in income
- For a normal good, higher income shifts the demand curve to the right, meaning the overall demand increases. This option would indeed cause the demand for milk to rise, so it does not fit the criterion of 'will not cause' an increase.
Option b: a decrease in ......Login to view full explanationLog in for full answers
We've collected over 50,000 authentic exam questions and detailed explanations from around the globe. Log in now and get instant access to the answers!
Similar Questions
In 2014, a "health star rating system" on packaged food was implemented in Australia. The system was implemented with the aim of reducing Australia's obesity rates by making healthy food choices easier and therefore reduce the consumption of unhealthy food. Despite the Australian Government's efforts to reduce the consumption of unhealthy food, child obesity rates in Australia have continued to increase since 2014.Which of the following statements is true?
In 1989 an international trade ban was announced for ivory. If people expected the price of ivory to rise after the ban, then their demand before the ban would:
Part 1Sometimes questions that involve graphs will ask you to consider the effect of a changing factor or factors. Problem statement: right arrow→ The line labeled D1 in the graph to the right shows the number of cups of lemonade that Caroline and Emily can sell at their lemonade stand at various prices. Caroline and Emily have noticed that they sell more lemonade when it's hotter. Click anywhere on the graph to open a window with a control labeled Temperature. If you use the slider to change the temperature, the line will shift. Change the temperature from 80 degrees to 100100 degrees. Question: right arrow→ At a price of $0.50, how many more or fewer cups of lemonade do Caroline and Emily sell when the temperature is 100100 degrees than when the temperature is 80 degrees?(Note: indicate the change in cups of lemonade sold: fewer will be a negative number and more will be a positive number)Part 2 A.10 1010 B. -2 C. 15 D. 0
The figure above shows the demand for hot dogs shifting out (more demanded at every price). Assume hot dogs are a normal good. Which of the following could have caused the shift shown?
More Practical Tools for Students Powered by AI Study Helper
Making Your Study Simpler
Join us and instantly unlock extensive past papers & exclusive solutions to get a head start on your studies!