Exam 4: Demand and Supply
Exam 1: Getting Started337 Questions
Exam 2: The Usand Global Economies201 Questions
Exam 3: The Economic Problem273 Questions
Exam 4: Demand and Supply322 Questions
Exam 5: Elasticities of Demand and Supply335 Questions
Exam 6: Efficiency and Fairness of Markets352 Questions
Exam 7: Government Actions in Markets239 Questions
Exam 8: Taxes267 Questions
Exam 9: Global Markets in Action276 Questions
Exam 10: Externalities300 Questions
Exam 11: Public Goods and Common Resources177 Questions
Exam 12: Markets With Private Information101 Questions
Exam 13: Consumer Choice and Demand287 Questions
Exam 14: Production and Cost266 Questions
Exam 15: Perfect Competition275 Questions
Exam 16: Monopoly377 Questions
Exam 17: Monopolistic Competition213 Questions
Exam 18: Oligopoly222 Questions
Exam 19: Markets for Factors of Production178 Questions
Exam 20: Economic Inequality155 Questions
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-The above figure shows the market for pizza.The market is in equilibrium when some of the pizza firms go out of business.What point represents the most likely new price and quantity?
(Multiple Choice)
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Suppose the equilibrium price of movie tickets is $10.If the supply curve for movies shifts __________,the equilibrium price will ______.
(Multiple Choice)
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Which of the following helps explain why the law of supply exists?
(Multiple Choice)
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The demand for oranges increases while the supply decreases.The equilibrium price of oranges ________,and the equilibrium quantity ________.
(Multiple Choice)
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The number of people looking to buy ceiling fan buyers increases,so there is an increase in the
(Multiple Choice)
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If the number of companies producing memory chips increases,then the
(Multiple Choice)
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If the automobile workers' union successfully negotiates a wage increase for its members,how does the wage hike affect the supply of automobiles?
(Multiple Choice)
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Which of the following is correct?
i.A surplus puts downward pressure on the price of a good.
ii.A shortage puts upward pressure on the price of a good.
iii.There is no surplus or shortage at equilibrium.
(Multiple Choice)
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Which of the following increases the supply of a good and shifts its supply curve rightward?
(Multiple Choice)
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-The above figures show the market for HD televisions.If people's incomes increase and HD televisions are a normal good,which figure shows the effect of this change?
(Multiple Choice)
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-Scooters are a normal good and buyers' incomes decrease.Which of the figures above best illustrates how this change affects the demand curve for scooters?
(Multiple Choice)
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The number of corn producers increases,so the supply of corn ________ and the supply curve of corn ________.
(Multiple Choice)
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Suppose that the demand curve for desktop computers shifts rightward and at the same time the supply curve shifts leftward.Which of the following could have caused these shifts?
(Multiple Choice)
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