Econ HW 2

The supply curve for portable charcoal grills shifts

when a determinant of the supply of portable charcoal grills other than the price of portable charcoal grills changes.

Which of the following events could shift the demand curve for gasoline to the left

Public service announcements run on television encourage people to walk or ride bicycles instead of driving cars.

Which of the following events could cause an increase in the supply of ceiling fans?

The number of sellers of ceiling fans increases

A freeze in Peru causes the price of coffee to skyrocket. Assuming coffee and tea are substitutes, which of the following will happen?

The quantity demanded of coffee will decrease, and the demand for tea will increase

Which of the following demonstrates the law of supply?

When the price of leather belts rose, leather belt sellers increase their quantity supplied of leather belts

A higher price for batteries would result in a(n)

decrease in the demand for flashlights

If car manufacturers begin using new labor-saving technology on their assembly lines, we would not expect

individual car manufacturers to move up and to the right along their individual supply curves

Suppose there is an increase in the price of steel. We would expect the supply curve for steel beams to

shift leftward.

If sellers expect higher basket prices in the near future, the current

supply of baskets will decrease

Which of the following would shift the supply of Packers football jerseys to the right?

the cost of the fabric used to make the jerseys decreases

Today's supply curve for gasoline could shift in response to a change in

the expected future price of gasoline