Multiple Choice Questions

Figure 3-1 shows the shifts in the demand curve for a good. Using the graph and beginning on D1, a shift to D2 would indicate a(n):
  • increase in demand
  • increase in quantity demanded.
  • an increase in demand.
  • decrease in supply
When the demand and supply of grapes both increase at the same time, then the:
  • the price will tend to rise.
  • rightward shift in the demand curve
  • The supply curve for the good will shift to the right.
  • quantity of grapes bought and sold will rise.
Which of the following would cause the demand curve for DVDs to shift to the right?
  • At equilibrium, quantity demanded equals quantity supplied
  • A change in quantity supplied is caused by a change in a good's own, current price, while a change in supply is caused by a change in some other variable, such as input prices, prices of related goods, expectations, or taxes.
  • Many sellers offer identical products in a competitive market.
  • A decrease in the price of DVD players
A technological improvement that lowers production costs for Good A will:
  • shift the supply curve for A to the right
  • rightward shift in the demand curve
  • quantity of grapes bought and sold will rise.
  • A decrease in the price of DVD players
Figure 3-3 shows shifts in the supply curve of a good. A change from Point A to Point E represents a(n):
  • decrease in supply
  • an increase in demand.
  • increase in demand
  • increase in quantity demanded.
An increase in quantity demanded:
  • is illustrated by a movement downward and to the right along a demand curve.
  • increase quantity demanded of the good.
  • True
  • False
Which of the following is true of a competitive market?
  • At equilibrium, quantity demanded equals quantity supplied
  • A decrease in the price of DVD players
  • Many sellers offer identical products in a competitive market.
  • The supply curve for the good will shift to the right.
Which of the following is a difference between a change in quantity supplied and a change in supply?
  • Many sellers offer identical products in a competitive market.
  • A change in quantity supplied is caused by a change in a good's own, current price, while a change in supply is caused by a change in some other variable, such as input prices, prices of related goods, expectations, or taxes.
  • At equilibrium, quantity demanded equals quantity supplied
  • A decrease in the price of DVD players
Figure 3-2 shows the shifts in the demand curve for a good. A change from Point A to Point C represents a(n):
  • A decrease in the price of DVD players
  • increase in quantity demanded.
  • decrease in supply
  • increase in demand
The supply curve for a good will shift to the left if:
  • shift the supply curve for A to the right
  • the price will tend to rise.
  • the input price for the good increases.
  • rightward shift in the demand curve
0 h : 0 m : 1 s

Multiple Choice Questions
Answered Not Answered Not Visited Correct : 0 Incorrect : 0