4. Movements along versus shifts of demand curves Consider the market demand for wine. Complete the following table by indicating whether an event will cause a movement along the demand curve for wine or a shift of the demand curve for wine, holding all else constant. Event Movement Along Shift A change in the expectations of consumers about prices A decrease in the price of beer (a substitute for wine) A decrease in the price of wine

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
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4. Movements along versus shifts of demand curves
Consider the market demand for wine.
Complete the following table by indicating whether an event will cause a movement along the demand curve for wine ar a shift of the demand curve
for wine, holding all else constant.
Event
Movement Along
Shift
A change in the expectations of consumers about prices
A decrease in the price of beer (a substitute for wine)
A decrease in the price of wine
Transcribed Image Text:4. Movements along versus shifts of demand curves Consider the market demand for wine. Complete the following table by indicating whether an event will cause a movement along the demand curve for wine ar a shift of the demand curve for wine, holding all else constant. Event Movement Along Shift A change in the expectations of consumers about prices A decrease in the price of beer (a substitute for wine) A decrease in the price of wine
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