Question 1

A ________ demand curve for shampoo would be caused by a change in the price of shampoo.

Accepted Answer

A)  rightward shift of the 
B)  leftward shift of the 
C)  movement along the 
D)  positively sloped 
A)  rightward shift of the 
B)  leftward shift of the 
C)  movement along the 
D)  positively sloped

Question 2

The income effect of a price change results in a

Accepted Answer

A)  shift of the demand curve when income changes. 
B)  movement along the demand curve due to a change in relative prices. 
C)  shift of the demand curve due to a change in purchasing power brought about by the price change. 
D)  movement along the demand curve due to a change in purchasing power brought about by the price change. 
A)  shift of the demand curve when income changes. 
B)  movement along the demand curve due to a change in relative prices. 
C)  shift of the demand curve due to a change in purchasing power brought about by the price change. 
D)  movement along the demand curve due to a change in purchasing power brought about by the price change.

Question 3

How has the growing popularity of factory outlet stores affected the market for clothing at retail department stores?

Accepted Answer

A)  the demand curve for clothing at retail department stores shifts to the right. 
B)  the demand curve for clothing at retail department stores shifts to the left. 
C)  the supply curve for clothing at retail department stores shifts to the right. 
D)  the supply curve for clothing at retail department stores shifts to the left. 
A)  the demand curve for clothing at retail department stores shifts to the right. 
B)  the demand curve for clothing at retail department stores shifts to the left. 
C)  the supply curve for clothing at retail department stores shifts to the right. 
D)  the supply curve for clothing at retail department stores shifts to the left.

Question 4

An increase in the price of MP3 players will result in

Accepted Answer

A)  a smaller quantity of MP3 players supplied. 
B)  a larger quantity of MP3 players supplied. 
C)  a decrease in the demand for MP3 players. 
D)  an increase in the supply of MP3 players. 
A)  a smaller quantity of MP3 players supplied. 
B)  a larger quantity of MP3 players supplied. 
C)  a decrease in the demand for MP3 players. 
D)  an increase in the supply of MP3 players.

Question 5

Technological advancements have led to lower prices and an increase in the sale of color laser printers.How does this affect the market for laser printer ink cartridges?

Accepted Answer

A)  The demand curve for laser printer ink cartridges shifts to the right. 
B)  The demand curve for laser printer ink cartridges shifts to the left. 
C)  The quantity of laser printer ink cartridges demanded increases. 
D)  The quantity of laser printer ink cartridges demanded decreases. 
A)  The demand curve for laser printer ink cartridges shifts to the right. 
B)  The demand curve for laser printer ink cartridges shifts to the left. 
C)  The quantity of laser printer ink cartridges demanded increases. 
D)  The quantity of laser printer ink cartridges demanded decreases.

Question 6

A demand curve shows the relationship between

Accepted Answer

A)  the price of a product and the quantity of the product demanded. 
B)  the amount of a product sellers are willing to sell at a particular price and the amount consumers are willing to buy at that price. 
C)  the quantity that consumers are willing and able to buy and the quantity that sellers are willing and able to offer. 
D)  the price of a produce and the demand for the product. 
A)  the price of a product and the quantity of the product demanded. 
B)  the amount of a product sellers are willing to sell at a particular price and the amount consumers are willing to buy at that price. 
C)  the quantity that consumers are willing and able to buy and the quantity that sellers are willing and able to offer. 
D)  the price of a produce and the demand for the product.

Question 7

Last month,the Tecumseh Corporation supplied 400 units of three-ring binders at $6 per unit.This month,the company supplied the same quantity of binders at $4 per unit.Based on this evidence,Tecumseh has experienced

Accepted Answer

A)  a decrease in supply. 
B)  an increase in supply. 
C)  an increase in the quantity supplied. 
D)  a decrease in the quantity supplied. 
A)  a decrease in supply. 
B)  an increase in supply. 
C)  an increase in the quantity supplied. 
D)  a decrease in the quantity supplied.

A ________ demand curve for shampoo would be caused by a change in the price of shampoo.

The income effect of a price change results in a

How has the growing popularity of factory outlet stores affected the market for clothing at retail department stores?

An increase in the price of MP3 players will result in

Technological advancements have led to lower prices and an increase in the sale of color laser printers.How does this affect the market for laser printer ink cartridges?

A demand curve shows the relationship between

Last month,the Tecumseh Corporation supplied 400 units of three-ring binders at $6 per unit.This month,the company supplied the same quantity of binders at $4 per unit.Based on this evidence,Tecumseh has experienced

Economics: Foundations and Models

Trade-Offs, comparative Advantage, and the Market System

Economic Efficiency, government Price Setting, and Taxes

The Economics of Health Care

Firms, the Stock Market, and Corporate Governance

Comparative Advantage and the Gains From International Trade

Gdp: Measuring Total Production and Income

Unemployment and Inflation

Economic Growth, the Financial System, and Business Cycles

Long-Run Economic Growth: Sources and Policies

Aggregate Expenditure and Output in the Short Run

Aggregate Demand and Aggregate Supply Analysis

Money, banks, and the Federal Reserve System

Monetary Policy

Fiscal Policy

Inflation, unemployment, and Federal Reserve Policy

Macroeconomics in an Open Economy

The International Financial System

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Exam 3: Where Prices Come From: the Interaction of Demand and Supply

A ________ demand curve for shampoo would be caused by a change in the price of shampoo.

The income effect of a price change results in a

How has the growing popularity of factory outlet stores affected the market for clothing at retail department stores?

An increase in the price of MP3 players will result in

Technological advancements have led to lower prices and an increase in the sale of color laser printers.How does this affect the market for laser printer ink cartridges?

A demand curve shows the relationship between

Last month,the Tecumseh Corporation supplied 400 units of three-ring binders at $6 per unit.This month,the company supplied the same quantity of binders at $4 per unit.Based on this evidence,Tecumseh has experienced

Economics: Foundations and Models

Trade-Offs, comparative Advantage, and the Market System

Economic Efficiency, government Price Setting, and Taxes

The Economics of Health Care

Firms, the Stock Market, and Corporate Governance

Comparative Advantage and the Gains From International Trade

Gdp: Measuring Total Production and Income

Unemployment and Inflation

Economic Growth, the Financial System, and Business Cycles

Long-Run Economic Growth: Sources and Policies

Aggregate Expenditure and Output in the Short Run

Aggregate Demand and Aggregate Supply Analysis

Money, banks, and the Federal Reserve System

Monetary Policy

Fiscal Policy

Inflation, unemployment, and Federal Reserve Policy

Macroeconomics in an Open Economy

The International Financial System

Filters