1.

An increase in the demand for music downloads indicates that more music downloads are

a. demand even if prices of music downloads stay the same.

b. demanded because sellers are selling more music downloads.

c. demanded because sellers are putting music downloads on sale.

d. demanded because music download prices have decreased.

2.

The table below shows the weekly demand for hamburgers in a market where there are just three buyers.

Price	QuantityDemandedby Buyer 1	QuantityDemandedby Buyer 2	QuantityDemandedby Buyer 3
$6	7	4	6
5	9	7	8
4	15	10	12
3	21	15	16

Refer to the table. At a price of $4, the weekly quantity ofhamburgers demanded in the market is

a. 25.

b. 37.

c. 22.

d. 41.

3.

When economists describe "a market," they mean

a. a communication network that allows individuals to keep in touch with each other.

b. any place where, or mechanism by which, buyers and sellers interact to trade goods, services, or resources.

c. a hypothetical place where the production of goods and services takes place.

d. any place where stocks and bonds are traded.

4.

All else held constant, the law of demand suggests that as

a. the demand for tablets increases, the price of tablets will increase.

b. the price of tablets decreases, the number of tablets demanded will increase.

c. income increases, the number of tablets demanded will increase.

d. the price of tablets decreases, the number of tablets demanded will decrease.

Answer rating: 100% (QA)

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