Social studies

Which of the following is least likely to cause a shift in the demand curve for a particular good?

• A change in preferences

• A change in income

• A shift in the supply curve of a complement

• A shift in the supply curve of the good

When demand is inelastic, a leftward shift in supply will most likely result in

• A small decrease in equilibrium price and a large increase in equilibrium quantity

• A large decrease in equilibrium price and a small increase in equilibrium quantity

• A small increase in equilibrium price and a large decrease in equilibrium quantity

• A large increase in equilibrium price and a small decrease in equilibrium quantity

When price increases, quantity demanded

• Increases

• Decreases

• Supply would decrease, not quantity supplied

• Supply would increase, not quantity supplied

If a wave of Peruvian immigrants migrated to south Florida, how might this affect the demand for Peruvian goods in the region?

• Demand would increase

• Demand would decrease

• Demand would be unchanged

• Quantity demanded would increase

Much of the tea in the U.K is imported from India. If wages for Indian tea workers rose, thus increasing input costs, how would this effect supply of tea in the U.K

• Supply would increase

• Supply would decrease

• Supply would stay the same

• India is not a real country

When price decreases, quantity supplied

• Increases

• Decreases

When the demand curve shifts to the left, this suggests demand has

• Increased

• Decreased

• Quantity demanded has increased

• Quantity demanded has decreased

If input costs increase, what will a producer have to do to avoid losing revenue?

• Raise price

• lower price

• Decrease supply

• Increase supply

When price increases, quantity supplied

• Increases

• Decreases

When the demand curve has shifted to the right, this suggests demand has

• Increased

• Decreased

• Quantity demanded has increased

• Quantity demanded has decreased