ECON 2301 Week 1 Quiz

ECON 2301 Week 1 Quiz | Assignment Help | Central Texas College

Question 1

A leftward shift of a supply curve is called a(n)                     

Question 2

A decrease in the price of a good will    

Question 3

Refer to Figure 4-17. At a price of

Question 4

Consider the market for portable air conditioners in equilibrium. A summer of unseasonably cool weather would cause                         

Question 5

Refer to Figure 4-7. If the demand curve for Good X shifts from Da to D b, then

Question 6

  During the last few decades in the United States, health officials have argued that eating too much beef might be harmful to human health. As a result, there has been a significant decrease in the amount of beef produced. Which of the following best explains the decrease in production?                        

  Question 7

            A likely example of complementary goods for most people would be                                  

•           Question 8

            In a market economy, supply and demand are important because they                                 

•           Question 9

            An example of a perfectly competitive market would be the                          

•           Question 10

            Consider the market for portable air conditioners in equilibrium. When a heat wave strikes the equilibrium price