When the economy suffers a downturn vacationers are

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32. When the economy suffers a downturn, vacationers are more likely to take car trips than to fly. Which of the following provides the most reasonable explanation for this phenomenon? a) air travel and vacation travel by car are complementary goods. b) air travel and vacation travel by car are both normal goods. c) air travel is a normal good and vacation travel by car is an inferior good. d) air travel is an inferior good and vacation travel by car is a normal good. Use this figure to answer questions 33 and 34. Figure: Demand for Coconuts 33. (Figure: Demand for Coconuts) If a coconut is a normal good and the price of coconuts increases, then the movement that would take place in the model could be:
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34. (Figure: Demand for Coconuts) If there is an overall increase in taste and preference for coconuts, then the movement that would take place in the model could be: 35. The demand curve for videos has shifted to the right. What could have caused it? 36. The primary difference between a change in demand and a change in the quantity demanded is: a) a change in demand is a movement along the demand curve and a change in quantity demanded is a shift in the demand curve. b) a change in quantity demanded is a movement along the demand curve and a change in demand is a shift in the demand curve. c) both a change in quantity demanded and a change in demand are shifts in the demand curve, only in different directions. d) both a change in quantity demanded and a change in demand are movements along the demand curve, only in different directions.
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Use this figure to answer question 37. Figure: Demand for DVDs 37. (Figure: Demand for DVDs) A decrease in the price of DVD rentals would result in a change illustrated by: 38. Given that chicken and beef are substitute goods, if the price of chicken decreases substantially, there would be:
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39. Which of the following will not cause an increase in the supply of cornflakes? Use this figure to answer question 40. 40. (Figure: Demand and Supply of Wheat) If there were a decrease in supply of 2,000 bushels at each price, the equilibrium price and quantity would be ________ and ________ units, respectively. a) $5; 5,000 b) $7; 5,000 c) $6; 4,000 d) $8; 6,000
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