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When the price of mangoes rises, Noor buys more pineapples. This means that, for Noor:

a.

mangoes and pineapples are complements.

b.

mangoes are inferior and pineapples are normal.

c.

mangoes and pineapples are substitutes.

d.

pineapples are inferior and mangoes are normal.

According to the law of demand:

a.

as the price of a good rises, quantity demanded will rise.

b.

as the quantity supplied of a good rises, the quantity demanded of a good falls.

c.

as the price of a good rises, quantity demanded will fall.

d.

as the price of a good falls, quantity demanded will fall.

An inferior good is a good that:

a.

you would buy more of if your income fell.

b.

you would buy more of if your income rose.

c.

you would buy less of if the price of a complement fell.

d.

you would buy less of if the price of a substitute fell.

The law of demand is best illustrated by which feature of a demand curve?

a.

The fact that it has a negative slope

b.

The fact that it has a positive slope

c.

The fact that it is a curved line

d.

The fact that it is a straight line

A "change in demand" refers to:

a.

a shift of the entire demand curve, either to the right or left.

b.

a change in the slope of the demand curve.

c.

a movement along a stationary demand curve.

d.

a change in the curvature of a demand curve.

Suppose the government declares that a gallon of milk MUST cost $10. As a result of this new decree:

a.

the supply curve for milk will shift, but the demand curve will not.

b.

neither the demand curve nor the supply curve for milk will shift.

c.

both the demand curve and the supply curve for milk will shift.

d.

the demand curve for milk will shift, but the supply curve will not.

The law of supply holds that price and quantity supplied are:

a.

inversely proportional.

b.

unrelated.

c.

negatively correlated.

d.

positively correlated.