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Macroeconomics Milestone II.docx - Which of the following...

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Which of the following statements is FALSE relating to the Law of Demand?
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Using the above graph, which of the following statements is FALSE relating to the Law of Demand?When price decreases, the quantity demanded will always increase by the same amount.
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As the price of a product increases, people purchase __________. This is because they are able tofind __________ for the product in question. These changes create movement along the demandcurve.
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A demand curve can shift for many reasons.Select the reason below that does NOT shift a demand curve.
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Demand curve can shift because of:Price of complements increasesChanges in preferencesPrice of substitutes increases
According to recent numbers, demand for college education had fallen in recent years.Which of the following examples would indicate a movement along the demand curve?
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During the 18th Century, as troubles with Britain escalated, American colonists stoppeddrinking British tea, and instead starting drinking coffee.The is an example of which factor of demand?
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Which of the following statements is FALSE as it relates to the Law of Supply?
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True statements that relate to the Law of Supply:
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