Exam 3: Part 1: Market Demand and Supply

Assume that crackers and soup are complementary goods.The effect on the soup market of an increase in the price of crackers (other things being equal)would best be described as a(n):

According to the law of supply a(n):

An increase in the number of producers will:

Coffee and tea are:

The law of demand refers to the:

When economists say the supply of a product has decreased,they mean that:

Which of the following would most likely cause the demand for veggie burgers to increase?

Coke and Pepsi are an example of:

Two goods that are complementary are:

A rightward shift of a demand curve is called a(n):

If the United Auto Workers union can obtain a substantial wage increase for auto workers,there will be a(n):

Exhibit 3-3 Demand curves -Which of the graphs in Exhibit 3-3 depicts the effect of an increase in income on the demand for DVDs (a normal good)?

Which of the following can bring about a change in the quantity demanded?

We can find the market demand for pears by:

A demand curve shows the relationship between:

An improvement in a firm's technology that reduces its production costs will result in a(n):

A fall in the price of a good causes an increase in its:

Other things being equal,the effects of an increase in the price of computers would best be represented by which of the following?

The law of demand is illustrated by a demand curve that is:

Which of the following will increase the supply of a good?