Which of the following statements about quantity demanded is not true? Quantity demanded is:
A. a desired quantity, not necessarily the quantity exchanged.
B. effective demand, or the amount people are willing to buy at a particular price.
C. expressed as a certain amount per period of time.
D. the entire relation between price and quantity.
2. To say that the demand curve for movies is downward sloping to the right means that:
A. less will be demanded at lower prices.
B. more will be demanded as color TV sets become more expensive.
C. less will be demanded at higher prices.
D. less will be demanded if movies become poorer in quality.
3. Which of the following will NOT, all else equal, cause demand for good A to change?
A. a change in the price of A.
B. a change in the price of B, a complement.
C. a change in the price of C, a substitute.
D. an increase in average income.
E. all of the above cause demand for good A to change.
4. One purpose of advertising is to:
A. shift the demand curve for the good to the right.
B. shift the demand curve for the good to the left.
C. shift the supply curve for the good to the left.
D. make the demand curve for substitute goods shift to the right, thus increasing the demand for the advertised good.
5. Consider automobiles and automobile tires. When the price of automobiles decreases, the demand for tires is predicted to:
A. increase.
B. decrease.
C. remain unchanged, although tire prices are likely to fall.
D. remain unchanged, although quantity demanded increases.
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