Economics Homework Questions? Please help! Due tonight at 11:30 PM?
1) Statistics released by the US Government indicate that income in the US Rose by 6.5 percent in the last 12 months. Which determinant of demand would this be in the market for FORD TRUCKS?
a) Change in preferences
b) Change in the number of buyers
c) Change in income
d) Change in the price or availability of a complement
e) None of the above
2) How will the curve shift?
a) Shift to the right
b) Shift to the left
c) No change
3) The price of hot dogs increases Which determinant of demand would this be for HOT DOG BUNS?
a) Change in income
b) Change in the price or availability of a substitute
c) Change in the price or availability of a complement
d) Change in style, taste, or preference
e) Change in the number of buyers
4) How will this curve shift?
a) Shift to the right
b) Shift to the left
c) No change
I would go for c, a, c, b
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