Econ 101 week 2 quiz ch 3

 

ECON 101 Week 2 Quiz Ch 3

Week 2 Quiz (Chapter 3)

Return to Assessment List

Part 1 of 1 –

100.0 Points

Question 1 of 10

10.0 Points

A shift of a demand curve to the right, all other things unchanged, will:

 A.increase equilibrium price and quantity.

 B.decrease equilibrium price and quantity.

 C.decrease quantity and increase price.

 D.increase quantity and decrease price.

Question 2 of 10

10.0 Points

If the current price is above the equilibrium price, we would expect:

 A.quantity demanded to exceed quantity supplied.

 B.upward pressure on price.

 C.quantity supplied to exceed quantity demanded.

 D.no change in the market price.

Question 3 of 10

10.0 Points

Demand is defined as:

 A.an amount that is purchased at a specific price, given supply.

 B.a schedule that establishes the price of a good.

 C.a schedule that shows how much will be purchased at various prices during a particular period, all other things unchanged.

 D.the amount that will be bought at a specific price.

Question 4 of 10

10.0 Points

The primary difference between a change in demand and a change in the quantity demanded is:

 A.a change in demand is a movement along the demand curve, and a change in quantity demanded is a shift in the demand curve.

 B.a change in quantity demanded is a movement along the demand curve, and a change in demand is a shift in the demand curve.

 C.both a change in quantity demanded and a change in demand are shifts in the demand curve, only in different directions.

 D.both a change in quantity demanded and a change in demand are movements along the demand curve, only in different directions.

Question 5 of 10

10.0 Points

A negative relationship between the quantity demanded and price is called the law of ______.

 A.demand

 B.diminishing marginal returns

 C.market clearing

 D.supply

Question 6 of 10

10.0 Points

The relationship between the quantity of a good or service sellers are willing and able to offer for sale and the independent variables that determine quantity is:

 A.supply.

 B.demand.

 C.equilibrium.

 D.disequilibrium.

Question 7 of 10

10.0 Points

A price below the equilibrium price will:

 A.result in pressure for price to rise.

 B.result in a surplus.

 C.never be the case.

 D.result in pressure for price to fall.

Question 8 of 10

10.0 Points

It is true that the equilibrium quantity will always go up if supply:

 A.and demand both increase.

 B.increases and demand decreases.

 C.and demand both decrease.

 D.decreases and demand remains unchanged.

Question 9 of 10

10.0 Points

The intersection of the supply and demand curves indicates:

 A.the equilibrium solution in the market.

 B.a surplus that will cause the price to fall.

 C.a shortage that will cause the price to rise.

 D.the quantity demanded exceeds the quantity supplied.

Question 10 of 10

10.0 Points

A decrease in supply means:

 A.a shift to the left of the entire supply curve.

 B.moving downward (to the left) along the supply curve with lower prices.

 C.less will be demanded at every price.

 D.more will be supplied at every price.

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.

Read more

Free-revision policy

The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.

Read more

Privacy policy

The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.

Read more

Fair-cooperation guarantee

By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency