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.