Exam 3: Demand and Supply

During the past twenty years, the prices of prescription drugs, relative to the prices of other goods, have risen, yet Americans buy more prescription drugs than ever. This might be because

(Multiple Choice)

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Question 61

Assume that beef and pork are substitutes for consumers. There is a drought in the cattle grazing areas. The drought will shift the

(Multiple Choice)

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Question 62

Kelly graduates and her income increases by $25,000 a year. Other things remaining the same, she increases the quantity of clothes she buys. For Kelly, clothes are .

(Multiple Choice)

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Question 63

-In the figure above, a decrease in the quantity of oil supplied but NOT in the supply of oil is shown by a movement from

(Multiple Choice)

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Question 64

Soft drinks are a normal good. Draw a graph showing the effect of an increase in income on the demand for soft drinks.

(Essay)

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Question 65

-In the figure above, which movement could be the result of an increase in the wages paid to oil workers?

(Multiple Choice)

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Question 66

The price of a gallon of milk falls. Which of the following is a possible cause?

(Multiple Choice)

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Question 67

Which of the following explains why supply curves slope upward?

(Multiple Choice)

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Question 68

If more people buy larger cars that have lower gas mileage, the equilibrium price of gasoline will And the equilibrium quantity will .

(Multiple Choice)

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Question 69

Oatmeal is an inferior good and cold cereal is a substitute for oatmeal. Raisins are a complement for oatmeal. Which of the following increases the demand for oatmeal?

(Multiple Choice)

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Question 70

Which of the following statements is correct?

(Multiple Choice)

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Question 71

-In the above figure, if D₂is the original demand curve for a normal good and income decreases, which price and quantity might result?

(Multiple Choice)

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Question 72

The price of jet fuel falls. This fall shifts the

(Multiple Choice)

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Question 73

The cost of producing aspirin increases simultaneously as doctors find that one aspirin per day reduces the risk of heart attacks. The supply of aspirin and the demand for aspirin So that the equilibrium price of aspirin _ .

(Multiple Choice)

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Question 74

-The above table shows the demand schedule and supply schedule for chocolate chip cookies. An increase in income results in an increase in the demand for chocolate cookies by an amount of 3 pounds at every price. What are the new equilibrium quantity and equilibrium price?

(Multiple Choice)

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Question 75

-In the above figure, if D₂is the original demand curve and consumers come to expect that the price of the good will rise in the future, which price and quantity might result?

(Multiple Choice)

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Question 76

If the price of a DVD player falls, then in the market for DVDs,

(Multiple Choice)

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Question 77

Which of the following does NOT shift the demand curve for broccoli?

(Multiple Choice)

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Question 78

The law of demand implies that, other things remaining the same,

(Multiple Choice)

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Question 79

If the price of aluminum used to make bicycles increases, the price of a bicycle rises because of a

(Multiple Choice)

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Question 80

Showing 61 - 80 of 558

During the past twenty years, the prices of prescription drugs, relative to the prices of other goods, have risen, yet Americans buy more prescription drugs than ever. This might be because

Assume that beef and pork are substitutes for consumers. There is a drought in the cattle grazing areas. The drought will shift the

Kelly graduates and her income increases by $25,000 a year. Other things remaining the same, she increases the quantity of clothes she buys. For Kelly, clothes are .

-In the figure above, a decrease in the quantity of oil supplied but NOT in the supply of oil is shown by a movement from

Soft drinks are a normal good. Draw a graph showing the effect of an increase in income on the demand for soft drinks.

-In the figure above, which movement could be the result of an increase in the wages paid to oil workers?

The price of a gallon of milk falls. Which of the following is a possible cause?

Which of the following explains why supply curves slope upward?

If more people buy larger cars that have lower gas mileage, the equilibrium price of gasoline will And the equilibrium quantity will .

Oatmeal is an inferior good and cold cereal is a substitute for oatmeal. Raisins are a complement for oatmeal. Which of the following increases the demand for oatmeal?

Which of the following statements is correct?

-In the above figure, if D₂is the original demand curve for a normal good and income decreases, which price and quantity might result?

The price of jet fuel falls. This fall shifts the

The cost of producing aspirin increases simultaneously as doctors find that one aspirin per day reduces the risk of heart attacks. The supply of aspirin and the demand for aspirin So that the equilibrium price of aspirin _ .

-The above table shows the demand schedule and supply schedule for chocolate chip cookies. An increase in income results in an increase in the demand for chocolate cookies by an amount of 3 pounds at every price. What are the new equilibrium quantity and equilibrium price?

-In the above figure, if D₂is the original demand curve and consumers come to expect that the price of the good will rise in the future, which price and quantity might result?

If the price of a DVD player falls, then in the market for DVDs,

Which of the following does NOT shift the demand curve for broccoli?

The law of demand implies that, other things remaining the same,

If the price of aluminum used to make bicycles increases, the price of a bicycle rises because of a

What Is Economics

The Economic Problem

Measuring Gdp and Economic Growth

Monitoring Jobs and Inflation

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers: They Keynesian Model

U.S. Inflation, Unemployment, and Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Filters

Exam 3: Demand and Supply

During the past twenty years, the prices of prescription drugs, relative to the prices of other goods, have risen, yet Americans buy more prescription drugs than ever. This might be because

Assume that beef and pork are substitutes for consumers. There is a drought in the cattle grazing areas. The drought will shift the

Kelly graduates and her income increases by $25,000 a year. Other things remaining the same, she increases the quantity of clothes she buys. For Kelly, clothes are .

-In the figure above, a decrease in the quantity of oil supplied but NOT in the supply of oil is shown by a movement from

Soft drinks are a normal good. Draw a graph showing the effect of an increase in income on the demand for soft drinks.

-In the figure above, which movement could be the result of an increase in the wages paid to oil workers?

The price of a gallon of milk falls. Which of the following is a possible cause?

Which of the following explains why supply curves slope upward?

If more people buy larger cars that have lower gas mileage, the equilibrium price of gasoline will And the equilibrium quantity will .

Oatmeal is an inferior good and cold cereal is a substitute for oatmeal. Raisins are a complement for oatmeal. Which of the following increases the demand for oatmeal?

Which of the following statements is correct?

-In the above figure, if D2 is the original demand curve for a normal good and income decreases, which price and quantity might result?

The price of jet fuel falls. This fall shifts the

The cost of producing aspirin increases simultaneously as doctors find that one aspirin per day reduces the risk of heart attacks. The supply of aspirin and the demand for aspirin So that the equilibrium price of aspirin _ .

-The above table shows the demand schedule and supply schedule for chocolate chip cookies. An increase in income results in an increase in the demand for chocolate cookies by an amount of 3 pounds at every price. What are the new equilibrium quantity and equilibrium price?

-In the above figure, if D2 is the original demand curve and consumers come to expect that the price of the good will rise in the future, which price and quantity might result?

If the price of a DVD player falls, then in the market for DVDs,

Which of the following does NOT shift the demand curve for broccoli?

The law of demand implies that, other things remaining the same,

If the price of aluminum used to make bicycles increases, the price of a bicycle rises because of a

What Is Economics

The Economic Problem

Measuring Gdp and Economic Growth

Monitoring Jobs and Inflation

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers: They Keynesian Model

U.S. Inflation, Unemployment, and Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Filters

-In the above figure, if D₂is the original demand curve for a normal good and income decreases, which price and quantity might result?

-In the above figure, if D₂is the original demand curve and consumers come to expect that the price of the good will rise in the future, which price and quantity might result?