【ACCA选择题】
第一题:If the price of coffee falls,which one of the following outcomes would be expected to occur?
A A fall in the quantity of coffee demanded
B A rise in the price of tea
C A fall in the demand for drinking cups
D A fall in the demand for tea
第二题:What is an inferior good?
A A good of such poor quality that demand for it is very weak
B A good for which the cross elasticity of demand with a substitute product is greater than 1
C A good for which demand will fall as household income rises
第一题:【D】Rationale:It is assumed that cut flowers and flower vases are complementary goods.The rise in price of cut flowers will have an adverse effect on demand for flower vases,and the demand curve for flower vases will shift to the left.Given no change in supply conditions for vases,the new equilibrium price for vases will be lower.
第二题:【B】Rationale:As sea ferry tickets and hovercraft tickets are substitute goods,an increase in the price of hovercraft tickets will cause a shift to the right(increase in demand)for sea ferry tickets.Given no change in supply conditions,the consequence will be an increase in the number of sea ferry tickets sold,at a higher price than before.