A) is a table that shows the relationship between the price of a product and the quantity of the product supplied. B) is a curve that shows the relationship between the price of a product and the quantity of the product supplied. C) is the relationship between the supply of a good and the cost of producing the good. D) is a table that shows the relationship between the price of a product and the quantity of the product that producers and consumers are willing to exchange. A) is a table that shows the relationship between the price of a product and the quantity of the product supplied. B) is a curve that shows the relationship between the price of a product and the quantity of the product supplied. C) is the relationship between the supply of a good and the cost of producing the good. D) is a table that shows the relationship between the price of a product and the quantity of the product that producers and consumers are willing to exchange.

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

In January,buyers of gold expect that the price of gold will rise in February.What happens in the gold market in January,holding all else constant?

(Multiple Choice)

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Question 81

If in the market for peaches,the supply curve has shifted to the left,

(Multiple Choice)

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Question 82

One would speak of a change in the quantity of a good supplied,rather than a change in supply,if

(Multiple Choice)

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Question 83

If the number of firms producing mouthwash increases and consumer preference for mouthwash increases,the equilibrium price of mouthwash will definitely increase.

(True/False)

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Question 84

"The price of compact fluorescent light bulbs fell because of improvements in production technology.As a result,the demand for incandescent light bulbs decreased.This caused the price of incandescent light bulbs to fall;as the price of incandescent light bulbs fell the demand for incandescent light bulbs decreased even further." Evaluate this statement.

(Multiple Choice)

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Question 85

Which of the following statements is true?

(Multiple Choice)

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Question 86

If the demand curve for a product shifts to the left and the supply curve for the product shifts to the left,the equilibrium quantity will decrease.

(True/False)

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Question 87

Market equilibrium occurs where supply equals demand.

(True/False)

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Question 88

During the recession of 2007-2009,despite falling income levels,the fast-food chain Subway experienced increased sales.The increase in demand for Subway sandwiches despite the decline in income indicates that Subway sandwiches are considered

(Multiple Choice)

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Question 89

The Internet has created a new category in the book selling market,namely,the "barely used" book.How does the availability of barely used books affect the market for new books?

(Multiple Choice)

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Question 90

A supply schedule

(Multiple Choice)

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Question 91

As the number of firms in a market decreases,the supply curve will shift to the left and the equilibrium price will rise.

(True/False)

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Question 92

An increase in the number of firms in a market will cause the quantity of a good supplied to increase.

(True/False)

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Question 93

A change in supply is represented by a shift of the supply curve.

(True/False)

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Question 94

Tom Searchinger,a senior attorney at the Environmental Defense Fund,observed that generous farm subsidies have encouraged farmers to produce more corn and more wheat.How does this affect the market for fertilizer?

(Multiple Choice)

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Question 95

What would happen in the market for laser eye surgery if insurance companies started to cover a portion of the price of voluntary procedures?

(Multiple Choice)

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Question 96

Buyers rush to purchase stocks in California vineyards following a forecast of a 30 percent decline in this year's grape harvest.What happens in the California wine market as a result of this announcement?

(Multiple Choice)

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Question 97

Figure 3-4 -Refer to Figure 3-4.If the price is $10,

(Multiple Choice)

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Question 98

In 2004,hurricanes damaged a large portion of Florida's orange crop.As a result of this,many orange growers were not able to supply fruit to the market.At the pre-hurricane equilibrium price (i.e. ,at the initial equilibrium price),we would expect to see

(Multiple Choice)

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Question 99

Figure 3-1 -Refer to Figure 3-1.A decrease in the price of the product would be represented by a movement from

(Multiple Choice)

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Question 100

Showing 81 - 100 of 149

In January,buyers of gold expect that the price of gold will rise in February.What happens in the gold market in January,holding all else constant?

If in the market for peaches,the supply curve has shifted to the left,

One would speak of a change in the quantity of a good supplied,rather than a change in supply,if

If the number of firms producing mouthwash increases and consumer preference for mouthwash increases,the equilibrium price of mouthwash will definitely increase.

Which of the following statements is true?

If the demand curve for a product shifts to the left and the supply curve for the product shifts to the left,the equilibrium quantity will decrease.

Market equilibrium occurs where supply equals demand.

During the recession of 2007-2009,despite falling income levels,the fast-food chain Subway experienced increased sales.The increase in demand for Subway sandwiches despite the decline in income indicates that Subway sandwiches are considered

The Internet has created a new category in the book selling market,namely,the "barely used" book.How does the availability of barely used books affect the market for new books?

A supply schedule

As the number of firms in a market decreases,the supply curve will shift to the left and the equilibrium price will rise.

An increase in the number of firms in a market will cause the quantity of a good supplied to increase.

A change in supply is represented by a shift of the supply curve.

Tom Searchinger,a senior attorney at the Environmental Defense Fund,observed that generous farm subsidies have encouraged farmers to produce more corn and more wheat.How does this affect the market for fertilizer?

What would happen in the market for laser eye surgery if insurance companies started to cover a portion of the price of voluntary procedures?

Buyers rush to purchase stocks in California vineyards following a forecast of a 30 percent decline in this year's grape harvest.What happens in the California wine market as a result of this announcement?

Figure 3-4 -Refer to Figure 3-4.If the price is $10,

In 2004,hurricanes damaged a large portion of Florida's orange crop.As a result of this,many orange growers were not able to supply fruit to the market.At the pre-hurricane equilibrium price (i.e. ,at the initial equilibrium price),we would expect to see

Figure 3-1 -Refer to Figure 3-1.A decrease in the price of the product would be represented by a movement from

Economics: Foundations and Models

Trade-Offs, comparative Advantage, and the Market System

Market Efficiency and Market Failure

The Economics of Health Care

Firms, the Stock Market, and Corporate Governance

Consumer Choice and Elasticity

Technology,production,and Costs

Firms in Perfectly Competitive Markets

Monopoly and Antitrust Policy

Monopolistic Competition and Oligopoly

GDP: Measuring Total Production and Income

Unemployment and Inflation

Economic Growth, the Financial System, and Business Cycles

Aggregate Demand and Aggregate Supply Analysis

Money, banks, and the Federal Reserve System

Monetary Policy

Fiscal Policy

Comparative Advantage,international Trade,and Exchange Rates

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