Explain the effect of a change in the goods price


1. A change in all of the following variables will change the market demand for a product except

  • population and demographics.
  • the price of the product.
  • tastes.
  • income.

2. Which of the following will shift the demand curve for a good?

  • a decrease in the price of the good
  • a change in the technology used to produce the good
  • an increase in the price of the good
  • a decrease in the price of a complementary good

3. A movement along the demand curve for toothpaste would be caused by

  • a change in consumer income.
  • a change in the price of toothpaste.
  •  a change in the price of toothbrushes. 
  • a change in population.

4. The ________ effect refers to the change in quantity demanded for a good that results from the effect of a change in the good's price on consumer's purchasing power.

  • income
  • ceteris paribus
  • substitution
  • population

5. If an increase in income leads to in an increase in the demand for peanut butter, then peanut butter is

  • a normal good.
  • a complement.
  • a necessity.
  • a neutral good.

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Macroeconomics: Explain the effect of a change in the goods price
Reference No:- TGS0870535

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