SECTI NA Which of the following would be expected to decrease the demand for textbooks? An increase in the price of textbooks A decrease in college enrollment An increase in financial assistance to college students A decrease in the tuition per college class Oiva Noem! NAME PRINT LAST NAME, FIRST NAME 1. a. b. C. Ceteris paribus, an increase in the supply of tortillas causes the equilibrium price of 6. d. and the equilibrium quantity of tortillas to decrease; increase tortillas to C. increase; increase increase; decrease decrease; decrease d. a. b. Assuming tomato juice is a normal good, an increase in consumer income will cause an tomato juice and a(n) in the price of tomato juice. 7. increase in the demand for; decrease supply of; decrease C. demand for; increase supply of; increase a. d. b. Ceteris paribus, an increase in the demand for tortillas causes the equilibrium price of tortillas to and the equilibrium quantity of tortillas to decrease; increase decrease; decrease increase; increase increase; decrease a. C. b. d. 9. Assume teenagers in a town can either babysit or rake leaves to earn money on the weekends. Ceteris paribus, if the price paid for an hour of babysitting increases relative to the price paid for an hour of leaf raking, then: the supply of teens available to rake leaves is likely to decrease. the supply of teens available to baby sit is likely to decrease. the demand for baby sitting is likely to increase. the demand for leaf raking is likely to decrease. a. b. C. d. Technological improvements that reduce the cost of manufacturing smaller personal computers combined with an increase in the demand for smaller personal computers results in an increase in equilibrium: quantity, but no change in equilibrium price. price, but no change in equilibrium quantity. quantity, but the change in equilibrium price depends on the size of the shifts. price, but the change in equilibrium quantity depends on the size of the shifts. 10. a. b. C. d. 5. 8.
SECTI NA Which of the following would be expected to decrease the demand for textbooks? An increase in the price of textbooks A decrease in college enrollment An increase in financial assistance to college students A decrease in the tuition per college class Oiva Noem! NAME PRINT LAST NAME, FIRST NAME 1. a. b. C. Ceteris paribus, an increase in the supply of tortillas causes the equilibrium price of 6. d. and the equilibrium quantity of tortillas to decrease; increase tortillas to C. increase; increase increase; decrease decrease; decrease d. a. b. Assuming tomato juice is a normal good, an increase in consumer income will cause an tomato juice and a(n) in the price of tomato juice. 7. increase in the demand for; decrease supply of; decrease C. demand for; increase supply of; increase a. d. b. Ceteris paribus, an increase in the demand for tortillas causes the equilibrium price of tortillas to and the equilibrium quantity of tortillas to decrease; increase decrease; decrease increase; increase increase; decrease a. C. b. d. 9. Assume teenagers in a town can either babysit or rake leaves to earn money on the weekends. Ceteris paribus, if the price paid for an hour of babysitting increases relative to the price paid for an hour of leaf raking, then: the supply of teens available to rake leaves is likely to decrease. the supply of teens available to baby sit is likely to decrease. the demand for baby sitting is likely to increase. the demand for leaf raking is likely to decrease. a. b. C. d. Technological improvements that reduce the cost of manufacturing smaller personal computers combined with an increase in the demand for smaller personal computers results in an increase in equilibrium: quantity, but no change in equilibrium price. price, but no change in equilibrium quantity. quantity, but the change in equilibrium price depends on the size of the shifts. price, but the change in equilibrium quantity depends on the size of the shifts. 10. a. b. C. d. 5. 8.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Question 8
Transcribed Image Text:SECTI
NA
Which of the following would be expected to decrease the demand for textbooks?
An increase in the price of textbooks
A decrease in college enrollment
An increase in financial assistance to college students
A decrease in the tuition per college class
Oiva Noem!
NAME
PRINT LAST NAME, FIRST NAME
1.
a.
b.
C.
Ceteris paribus, an increase in the supply of tortillas causes the equilibrium price of
6.
d.
and the equilibrium quantity of tortillas to
decrease; increase
tortillas to
C.
increase; increase
increase; decrease
decrease; decrease
d.
a.
b.
Assuming tomato juice is a normal good, an increase in consumer income will cause an
tomato juice and a(n)
in the price of tomato juice.
7.
increase in the
demand for; decrease
supply of; decrease
C.
demand for; increase
supply of; increase
a.
d.
b.
Ceteris paribus, an increase in the demand for tortillas causes the equilibrium price of
tortillas to
and the equilibrium quantity of tortillas to
decrease; increase
decrease; decrease
increase; increase
increase; decrease
a.
C.
b.
d.
9.
Assume teenagers in a town can either babysit or rake leaves to earn money on the
weekends. Ceteris paribus, if the price paid for an hour of babysitting increases relative
to the price paid for an hour of leaf raking, then:
the supply of teens available to rake leaves is likely to decrease.
the supply of teens available to baby sit is likely to decrease.
the demand for baby sitting is likely to increase.
the demand for leaf raking is likely to decrease.
a.
b.
C.
d.
Technological improvements that reduce the cost of manufacturing smaller personal
computers combined with an increase in the demand for smaller personal computers
results in an increase in equilibrium:
quantity, but no change in equilibrium price.
price, but no change in equilibrium quantity.
quantity, but the change in equilibrium price depends on the size of the shifts.
price, but the change in equilibrium quantity depends on the size of the shifts.
10.
a.
b.
C.
d.
5.
8.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education