Welcome

Anti Essays offers essay examples to help students with their essay writing.

Sign Up

Demand Supply Analysis

Open Document

Below is a free excerpt of "Demand Supply Analysis" from Anti Essays, your source for free research papers, essays, and term paper examples.

-------------------------------------------------
CHAPTER 3—DEMAND AND SUPPLY

MULTIPLE CHOICE

1. If demand increases while supply decreases for a particular good, the:
a. | equilibrium price will increase while the quantity of the good produced and sold could increase, decrease, or remain constant. |
b. | quantity of the good produced and sold will decrease while its equilibrium price could increase, decrease, or remain constant. |
c. | quantity of the good produced and sold will increase while its equilibrium price could increase, decrease or remain constant. |
d. | equilibrium price will decrease while the quantity of the good produced and sold could increase, decrease, or remain constant. |

ANS: A PTS: 1

2. Surplus is a condition of:
a. | excess supply. |
b. | a deficiency in supply. |
c. | market equilibrium. |
d. | excess demand. |

ANS: A PTS: 1

3. The quantity of product X supplied can be expected to rise with a fall in:
a. | prices of competing products. |
b. | price of X. |
c. | energy-saving technical change. |
d. | input prices. |

ANS: D PTS: 1

4. Derived demand is directly determined by:
a. | utility. |
b. | the profitability of using inputs to produce output. |
c. | the ability to satisfy consumer desires. |
d. | personal consumption. |

ANS: B PTS: 1

5. A demand curve expresses the relation between the quantity demanded and:
a. | income. |
b. | advertising. |
c. | price. |
d. | all of these. |

ANS: C PTS: 1

6. Change in the quantity supplied reflects a:
a. | change in price. |
b. | switch from one supply curve to another. |
c. | change in one or more nonprice variables. |
d. | shift in supply. |

ANS: A PTS: 1

7. Holding all else equal, an unnecessary increase in federally-mandated auto safety requirements leads to a decrease in:
a. | auto demand. |
b. | the quantity of autos supplied. |
c....

Show More


Citations

MLA Citation

"Demand Supply Analysis". Anti Essays. 11 Dec. 2018

<http://trenmayamx.com/free-essays/Demand-Supply-Analysis-191283.html>

APA Citation

Demand Supply Analysis. Anti Essays. Retrieved December 11, 2018, from the World Wide Web: http://trenmayamx.com/free-essays/Demand-Supply-Analysis-191283.html