$\begin{array}{ccc} \begin{array}{c} \text { Price } \\ \text { (dollars } \\ \text { per stapler) } \end{array} & \begin{array}{c} \text { Quantity demanded } \\ \text { (thousands of staplers } \\ \text { per week) } \end{array} & \begin{array}{c} \text { Quantity supplied } \\ \text { (thousands of staplers } \\ \text { per week) } \end{array} \\ \hline 8 & 10 & 90 \\ 7 & 40 & 80 \\ 6 & 70 & 70 \\ 5 & 100 & 60 \end{array}$ -Using the data in the table above, if the price of a stapler is $5, then there is a ________ of staplers and the quantity of staplers demanded ________ the quantity of staplers supplied.

A) surplus; is greater than B) surplus; is less than C) shortage; is greater than D) shortage; is less than E) neither a surplus nor a shortage; equals A) surplus; is greater than B) surplus; is less than C) shortage; is greater than D) shortage; is less than E) neither a surplus nor a shortage; equals

Exam 4: Demand and Supply

Price (dollars per stapler) Quantity demanded (thousands of staplers per week) Quantity supplied (thousands of staplers per week) 8 10 90 7 40 80 6 70 70 5 100 60 -Using the data in the table above, if the price of a stapler is $5, then there is a of staplers and the quantity of staplers demanded the quantity of staplers supplied.

(Multiple Choice)

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Question 21

Teenagers drink more soda than other age groups.If the number of teenagers increases, everything else remaining the same,

(Multiple Choice)

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Question 22

Which of the following increases the supply of a good and shifts its supply curve rightward?

(Multiple Choice)

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Question 23

What happens to the demand for a good if a complement's price increases?

(Multiple Choice)

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Question 24

-In the above figure, the shift in the demand curve from D to D₂ can be the result of

(Multiple Choice)

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Question 25

What is the difference between a normal good and an inferior good. Give an example of each.

(Essay)

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Question 26

Consider the market for feather pillows.If there is an increase in the price of feather dusters, a substitute in production for feather pillows, then

(Multiple Choice)

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Question 27

If the demand for a good increases when people's incomes increase,

(Multiple Choice)

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Question 28

Consider the market for leather shoes.If producers believe the price of leather shoes will increase next month, today

(Multiple Choice)

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Question 29

If both producers and consumers believe that a product's price will rise in the future, then at the present, the equilibrium price

(Multiple Choice)

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Question 30

Suppose that the price of lettuce used to produce tacos increases.This change means that the equilibrium price of a taco and the equilibrium quantity .

(Multiple Choice)

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Question 31

-The above figures show the market for HD televisions. If the technology used to produce these televisions advances so that productivity increases, which figure shows the effect of this change?

(Multiple Choice)

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Question 32

List the factors that change supply and shift the supply curve.Tell what happens to supply and the supply curve when there is an increase in the factor.

(Essay)

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Question 33

Which of the following lower the equilibrium price of a canoe?

(Multiple Choice)

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Question 34

-The above figure illustrates the market for corn.If point "a" represents the original equilibrium and point "b" the new equilibrium, which of the following could have caused the change?

(Multiple Choice)

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Question 35

A scooter uses much less gasoline than does a car.Suppose the price of gasoline rises substantially. Which of the figures above best illustrates how this change affects the demand curve for scooters?

(Multiple Choice)

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Question 36

Peanut butter and jelly are complements for many consumers.Consider the market for peanut butter.If there is an increase in the price of jelly,

(Multiple Choice)

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Question 37

-The above figure shows the market for pizza.The market is in equilibrium when people learn that eating pizza helps prevent heart disease.What point represents the most likely new price and quantity?

(Multiple Choice)

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Question 38

Assume a market is in equilibrium.There is an increase in supply, but no change in demand As a result the equilibrium price is , and the equilibrium quantity is .

(Multiple Choice)

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Question 39

The market demand curve

(Multiple Choice)

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Question 40

Showing 21 - 40 of 317

Teenagers drink more soda than other age groups.If the number of teenagers increases, everything else remaining the same,

Which of the following increases the supply of a good and shifts its supply curve rightward?

What happens to the demand for a good if a complement's price increases?

-In the above figure, the shift in the demand curve from D to D₂ can be the result of

What is the difference between a normal good and an inferior good. Give an example of each.

Consider the market for feather pillows.If there is an increase in the price of feather dusters, a substitute in production for feather pillows, then

If the demand for a good increases when people's incomes increase,

Consider the market for leather shoes.If producers believe the price of leather shoes will increase next month, today

If both producers and consumers believe that a product's price will rise in the future, then at the present, the equilibrium price

Suppose that the price of lettuce used to produce tacos increases.This change means that the equilibrium price of a taco and the equilibrium quantity .

-The above figures show the market for HD televisions. If the technology used to produce these televisions advances so that productivity increases, which figure shows the effect of this change?

List the factors that change supply and shift the supply curve.Tell what happens to supply and the supply curve when there is an increase in the factor.

Which of the following lower the equilibrium price of a canoe?

-The above figure illustrates the market for corn.If point "a" represents the original equilibrium and point "b" the new equilibrium, which of the following could have caused the change?

A scooter uses much less gasoline than does a car.Suppose the price of gasoline rises substantially. Which of the figures above best illustrates how this change affects the demand curve for scooters?

Peanut butter and jelly are complements for many consumers.Consider the market for peanut butter.If there is an increase in the price of jelly,

-The above figure shows the market for pizza.The market is in equilibrium when people learn that eating pizza helps prevent heart disease.What point represents the most likely new price and quantity?

Assume a market is in equilibrium.There is an increase in supply, but no change in demand As a result the equilibrium price is , and the equilibrium quantity is .

The market demand curve

Getting Started

The Usand Global Economies

The Economic Problem

Gdp: a Measure of Total Production and Income

Jobs and Unemployment

The Cpi and the Cost of Living

Potential Gdp and the Natural Unemployment Rate

Economic Growth

Finance, Saving, and Investment

The Monetary System

Money, Interest, and Inflation

Aggregate Supply and Aggregate Demand

Aggregate Expenditure Multiplier

The Short-Run Policy Tradeoff

Fiscal Policy

Monetary Policy

International Trade Policy

International Finance

Filters

Exam 4: Demand and Supply

Teenagers drink more soda than other age groups.If the number of teenagers increases, everything else remaining the same,

Which of the following increases the supply of a good and shifts its supply curve rightward?

What happens to the demand for a good if a complement's price increases?

-In the above figure, the shift in the demand curve from D to D₂ can be the result of

What is the difference between a normal good and an inferior good. Give an example of each.

Consider the market for feather pillows.If there is an increase in the price of feather dusters, a substitute in production for feather pillows, then

If the demand for a good increases when people's incomes increase,

Consider the market for leather shoes.If producers believe the price of leather shoes will increase next month, today

If both producers and consumers believe that a product's price will rise in the future, then at the present, the equilibrium price

Suppose that the price of lettuce used to produce tacos increases.This change means that the equilibrium price of a taco ________ and the equilibrium quantity ________.

-The above figures show the market for HD televisions. If the technology used to produce these televisions advances so that productivity increases, which figure shows the effect of this change?

List the factors that change supply and shift the supply curve.Tell what happens to supply and the supply curve when there is an increase in the factor.

Which of the following lower the equilibrium price of a canoe?

-The above figure illustrates the market for corn.If point "a" represents the original equilibrium and point "b" the new equilibrium, which of the following could have caused the change?

A scooter uses much less gasoline than does a car.Suppose the price of gasoline rises substantially. Which of the figures above best illustrates how this change affects the demand curve for scooters?

Peanut butter and jelly are complements for many consumers.Consider the market for peanut butter.If there is an increase in the price of jelly,

-The above figure shows the market for pizza.The market is in equilibrium when people learn that eating pizza helps prevent heart disease.What point represents the most likely new price and quantity?

Assume a market is in equilibrium.There is an increase in supply, but no change in demand As a result the equilibrium price is ________, and the equilibrium quantity is ________.

The market demand curve

Getting Started

The Usand Global Economies

The Economic Problem

Gdp: a Measure of Total Production and Income

Jobs and Unemployment

The Cpi and the Cost of Living

Potential Gdp and the Natural Unemployment Rate

Economic Growth

Finance, Saving, and Investment

The Monetary System

Money, Interest, and Inflation

Aggregate Supply and Aggregate Demand

Aggregate Expenditure Multiplier

The Short-Run Policy Tradeoff

Fiscal Policy

Monetary Policy

International Trade Policy

International Finance

Filters

Suppose that the price of lettuce used to produce tacos increases.This change means that the equilibrium price of a taco and the equilibrium quantity .

Assume a market is in equilibrium.There is an increase in supply, but no change in demand As a result the equilibrium price is , and the equilibrium quantity is .