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Changes in the price of chocolate cake cause the
demand curve for chocolate cake to shift, whereas
changes in income cause a movement along the
demand curve for chocolate cake.
A. True
B. False
A movement along the downward-sloping
demand curve for frozen margaritas can be
caused by a change in weather.
A. True
B. False
Changes in the price of cheese cause a movement
along the supply of cheese, whereas changes in input
prices cause the supply of cheese to shift.
A. True
B. False
If demand decreases, both the
equilibrium price and quantity
decrease.
A. True
B. False
A market is a
A. series of equilibrium
prices for a particular
good or service.
B. series of equilibrium
quantities for a particular
good or service.
