Consider the market for cars. Which determinant of demand is affected by each of the following events? a. Environmentalists launch a successful One Family, One Car campaign: (Click to select) b. A baby boom occurred 16 years ago: (Click to select) c. Layoffs increase as the economy sheds millions of jobs: (Click to select) d. An oil shortage causes the price of gasoline to soar: (Click to select) Number of buyers Prices of related goods Incomes Consumer preferences Expectations e. The government offers tax rebates in return for the purchase of commuter rail tickets: (Click to select) ✓ f. The government announces a massive plan to bail out the auto industry and subsidize production costs (Click to select) If rising incomes cause the demand for beer to decrease, beer is ✓ (Click to select) a normal good an inferior good

Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter4: Demand, Supply, And Markets
Section: Chapter Questions
Problem 2QFR
Question
Consider the market for cars. Which determinant of demand is affected by each of the following events?
a. Environmentalists launch a successful One Family, One Car campaign: (Click to select)
b. A baby boom occurred 16 years ago: (Click to select)
c. Layoffs increase as the economy sheds millions of jobs: (Click to select)
d. An oil shortage causes the price of gasoline to soar: (Click to select)
Number of buyers
Prices of related goods
Incomes
Consumer preferences
Expectations
e. The government offers tax rebates in return for the purchase of commuter rail tickets: (Click to select) ✓
f. The government announces a massive plan to bail out the auto industry and subsidize production costs (Click to select)
Transcribed Image Text:Consider the market for cars. Which determinant of demand is affected by each of the following events? a. Environmentalists launch a successful One Family, One Car campaign: (Click to select) b. A baby boom occurred 16 years ago: (Click to select) c. Layoffs increase as the economy sheds millions of jobs: (Click to select) d. An oil shortage causes the price of gasoline to soar: (Click to select) Number of buyers Prices of related goods Incomes Consumer preferences Expectations e. The government offers tax rebates in return for the purchase of commuter rail tickets: (Click to select) ✓ f. The government announces a massive plan to bail out the auto industry and subsidize production costs (Click to select)
If rising incomes cause the demand for beer to decrease, beer is ✓ (Click to select)
a normal good
an inferior good
Transcribed Image Text:If rising incomes cause the demand for beer to decrease, beer is ✓ (Click to select) a normal good an inferior good
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