1. If there is a population boom in California, the (demand/quantity demand) for surfboards will (increase / decrease). 2. If market experts announce that price of gold is expected to rise 25% in May, the (demand/quantity demand) for gold will (increase / decrease) in April. 3. If Kroger announces a price decrease on hot dogs, the (demand/quantity demand) for hamburgers will (increase / decrease)
1. If there is a population boom in California, the (demand/quantity demand) for surfboards will (increase / decrease). 2. If market experts announce that price of gold is expected to rise 25% in May, the (demand/quantity demand) for gold will (increase / decrease) in April. 3. If Kroger announces a price decrease on hot dogs, the (demand/quantity demand) for hamburgers will (increase / decrease)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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correct.
1. If there is a population boom in California, the (demand/quantity demand) for surfboards will
(increase / decrease)
2. If market experts announce that price of gold is expected to rise 25% in May, the (demand/quantity
demand) for gold will (increase / decrease) in April.
3. If Kroger announces a price decrease on hot dogs, the (demand/quantity demand) for hamburgers
will (increase decrease)
4. If a drought destroys tea crops causing an increase in the price of tea the (demand/quantity demand)
for sugar will (increase / decrease)
5. If a new study shows that eating dark chocolate promotes a healthier lifestyle, the (demand quantity
demand) for Ghirardelli 92°% Intense Dark bars at Chocoly Candy Shop will (increase/decrease).
6. If the Federal Reserve announces that the economy is booming and unemployment is at an all time low,
the (demand/quantity demand) for cars will (increase / decrease).
7. If the price of Chinese food decreases, there will be an (increase decrease) in the (demand/quantity
demand) for Lu's Lucky Chinese Food.
8. If the price of waffles increases, there will be an (increase decrease) in the (demand/quantity
demand) for waffles.
MICRCECONCMICS
Directions: Write below whether each factor will inerease or decrease demand for the market listed, what
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