Table of contents

1. Introduction to Macroeconomics1h 57m
2. Introductory Economic Models59m
3. Supply and Demand3h 43m
4. Elasticity2h 26m
5. Consumer and Producer Surplus; Price Ceilings and Price Floors3h 40m
6. Introduction to Taxes1h 25m
7. Externalities1h 3m
8. The Types of Goods1h 13m
9. International Trade1h 16m
10. Introducing Economic Concepts49m
11. Gross Domestic Product (GDP) and Consumer Price Index (CPI)1h 37m
12. Unemployment and Inflation1h 15m
13. Productivity and Economic Growth1h 17m
14. The Financial System1h 37m
15. Income and Consumption52m
16. Deriving the Aggregate Expenditures Model1h 22m
17. Aggregate Demand and Aggregate Supply Analysis1h 18m
18. The Monetary System1h 1m
19. Monetary Policy1h 32m
20. Fiscal Policy1h 0m
21. Revisiting Inflation, Unemployment, and Policy46m
22. Balance of Payments30m
23. Exchange Rates1h 16m
24. Macroeconomic Schools of Thought40m
25. Dynamic AD/AS Model35m
26. Special Topics11m

3. Supply and Demand

Supply and Demand Together: One-sided Shifts

Macroeconomics

3. Supply and Demand

Supply and Demand Together: One-sided Shifts

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Multiple Choice

A change in which of the following will NOT shift the demand curve for ice cream?

The price of frozen yogurt

The price of ice cream

The price of ice cream cones

The income of ice cream consumers

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Verified step by step guidance

Understand the concept of a demand curve: A demand curve shows the relationship between the price of a good and the quantity demanded by consumers. It typically slopes downwards, indicating that as the price decreases, the quantity demanded increases.

Identify factors that shift the demand curve: Factors that can shift the demand curve include changes in consumer income, prices of related goods (substitutes and complements), consumer preferences, and expectations about future prices.

Analyze the options given: The price of frozen yogurt, the price of ice cream cones, and the income of ice cream consumers are all factors that can shift the demand curve for ice cream. These factors affect consumer preferences and purchasing power, leading to a shift in demand.

Consider the effect of the price of ice cream: The price of ice cream itself does not shift the demand curve. Instead, it causes a movement along the demand curve, as it directly affects the quantity demanded at different price points.

Conclude which factor does not shift the demand curve: Since the price of ice cream causes movement along the curve rather than shifting it, it is the factor that does not shift the demand curve for ice cream.