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Mnnnnnnnnnnnn Essay

  • Submitted by: skhan77
  • on January 7, 2013
  • Category: College Admissions
  • Length: 1,375 words

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Below is an essay on "Mnnnnnnnnnnnn" from Anti Essays, your source for research papers, essays, and term paper examples.

AP Microeconomics

Unit 2:   Supply, Demand and Consumer Choice
Practice Questions




1. The demand curve for a normal good slopes down for which of the following reasons?
        I. An increase in the price of the good induces consumers to purchase substitute products.
      II. An increase in the price of the good reduces consumer’ purchasing power.
      III. An increase in the price of the good increases consumers’ utility from consuming that good.
  A. I only
  B. II only
  C. III only
  D. I and II only
  E. I and III only


2. Which of the following will NOT change the demand for oranges?
  A. A change in consumers’ incomes.
  B. A change in the price of grapefruits, a substitute for oranges.
  C. A change in the price of oranges.
  D. A change in the consumers’ taste for oranges.
  E. An expectation that the price of oranges will increase in the future.


3. If there is an increase in demand for a good, what will most likely happen to the price and quantity of the good exchanged?

            Price                     Quantity

  A. No Change           No Change
  B. Increase                 Increase
  C. Increase                 Decrease
  D. Decrease               Increase
  E. Decrease               Decrease


4. If hot dogs are an inferior good, an increase in income will result in:
  A. An increase in the quantity demanded for hot dogs.
  B. An increase in the demand for hot dogs.
  C. A decrease in the quantity demanded for hot dogs.
  D. A decrease in the demand for hot dogs.
  E. No change in the quantity demanded for hot dogs.





5. An increase in the price of gasoline will cause the demand curve for tires to shift in which direction?
  A. To the left, because gasoline and tires are substitutes.
  B. To the left, because gasoline and tires are complements.
  C. To the right, because gasoline and tires are substitutes.
  D. To the right, because gasoline and tires are...

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  • Submitted by: skhan77
  • on January 7, 2013
  • Category: College Admissions
  • Length: 1,375 words
  • Views: 430
  • Popularity Rank: 212565
  • 1 rating(s)

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