Question 1

The quantity of product X supplied can be expected to fall with a decline in:

Accepted Answer

A) the prices of competing products. 
B) the price of X. 
C) energy costs. 
D) worker productivity. 
A) the prices of competing products. 
B) the price of X. 
C) energy costs. 
D) worker productivity. D

Question 2

The supply curve expresses the relation between the quantity supplied and:

Accepted Answer

A) energy prices. 
B) output price. 
C) wage rates. 
D) all of the above. 
A) energy prices. 
B) output price. 
C) wage rates. 
D) all of the above. B

Question 3

If demand decreases while supply increases for a particular good:

Accepted Answer

A) its equilibrium price will increase while the quantity of the good produced and sold could increase, decrease, or remain constant. 
B) its equilibrium price will decrease while the quantity of the good produced and sold could increase, decrease, or remain constant. 
C) the quantity of the good produced and sold will decrease while its equilibrium price could increase, decrease, or remain constant. 
D) the quantity of the good produced and sold will increase while its equilibrium price could increase, decrease or remain constant. 
A) its equilibrium price will increase while the quantity of the good produced and sold could increase, decrease, or remain constant. 
B) its equilibrium price will decrease while the quantity of the good produced and sold could increase, decrease, or remain constant. 
C) the quantity of the good produced and sold will decrease while its equilibrium price could increase, decrease, or remain constant. 
D) the quantity of the good produced and sold will increase while its equilibrium price could increase, decrease or remain constant. B

Question 4

Input demand is:

Accepted Answer

A) derived demand. 
B) direct demand. 
C) motivated by utility. 
D) unrelated to the profit motive. 
A) derived demand. 
B) direct demand. 
C) motivated by utility. 
D) unrelated to the profit motive.

Question 5

An increase in employer-paid pension costs will decrease the:

Accepted Answer

A) supply of workers. 
B) quantity supplied of workers. 
C) quantity demanded of workers. 
D) demand for workers. 
A) supply of workers. 
B) quantity supplied of workers. 
C) quantity demanded of workers. 
D) demand for workers.

Question 6

In the housing market, a rise in interest rates will:

Accepted Answer

A) increase demand. 
B) decrease demand. 
C) decrease the quantity demanded. 
D) increase the quantity demanded. 
A) increase demand. 
B) decrease demand. 
C) decrease the quantity demanded. 
D) increase the quantity demanded.

Question 7

Derived demand will fall with a rise in:

Accepted Answer

A) output prices. 
B) profits per unit. 
C) variable costs. 
D) fixed costs. 
A) output prices. 
B) profits per unit. 
C) variable costs. 
D) fixed costs.

Question 8

The demand curve for automobiles produced in the United States expresses the relation between the quantity demanded and:

Accepted Answer

A) import prices. 
B) wage rates. 
C) interest rates. 
D) none of the above. 
A) import prices. 
B) wage rates. 
C) interest rates. 
D) none of the above.

Question 9

Surplus is a condition of:

Accepted Answer

A) excess supply. 
B) rising demand. 
C) market equilibrium. 
D) excess demand. 
A) excess supply. 
B) rising demand. 
C) market equilibrium. 
D) excess demand.

Question 10

Holding all else equal, an increase in the minimum wage leads to a decrease in:

Accepted Answer

A) employment. 
B) wage rates. 
C) worker productivity. 
D) inflation. 
A) employment. 
B) wage rates. 
C) worker productivity. 
D) inflation.

The quantity of product X supplied can be expected to fall with a decline in:

The supply curve expresses the relation between the quantity supplied and:

If demand decreases while supply increases for a particular good:

Input demand is:

An increase in employer-paid pension costs will decrease the:

In the housing market, a rise in interest rates will:

Derived demand will fall with a rise in:

The demand curve for automobiles produced in the United States expresses the relation between the quantity demanded and:

Surplus is a condition of:

Holding all else equal, an increase in the minimum wage leads to a decrease in:

Nature and Scope of Managerial Economics

Economic Optimization

Demand Analysis

Demand Estimation

Forecasting

Production Analysis and Compensation Policy

Cost Analysis and Estimation

Linear Programming

Competitive Markets

Performance and Strategy in Competitive Markets

Monopoly and Monopsony

Monopolistic Competition and Oligopoly

Game Theory and Competitive Strategy

Pricing Practices

Risk Analysis

Capital Budgeting

Organization Structure and Corporate Governance

Government in the Market Economy

Filters

Exam 3: Demand and Supply

The quantity of product X supplied can be expected to fall with a decline in:

The supply curve expresses the relation between the quantity supplied and:

If demand decreases while supply increases for a particular good:

Input demand is:

An increase in employer-paid pension costs will decrease the:

In the housing market, a rise in interest rates will:

Derived demand will fall with a rise in:

The demand curve for automobiles produced in the United States expresses the relation between the quantity demanded and:

Surplus is a condition of:

Holding all else equal, an increase in the minimum wage leads to a decrease in:

Nature and Scope of Managerial Economics

Economic Optimization

Demand Analysis

Demand Estimation

Forecasting

Production Analysis and Compensation Policy

Cost Analysis and Estimation

Linear Programming

Competitive Markets

Performance and Strategy in Competitive Markets

Monopoly and Monopsony

Monopolistic Competition and Oligopoly

Game Theory and Competitive Strategy

Pricing Practices

Risk Analysis

Capital Budgeting

Organization Structure and Corporate Governance

Government in the Market Economy

Filters