Quiz 2 results page 1

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201

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Economics

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Feb 20, 2024

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Uploaded by DoctorMole19208

estion 1 0 / 10 poi A shift of a demand curve to the right, all other things unchanged, will: Question options: increase equilibrium price and quantity. decrease equilibrium price and quantity. decrease quantity and increase price. increase quantity and decrease price. Question 2 10 / 10 points If the current price is above the equilibrium price, we would expect: Question options: quantity demanded to exceed quantity supplied. upward pressure on price. quantity supplied to exceed quantity demanded. no change in the market price. Question 3 0 / 10 points Demand is defined as: Question options: an amount that is purchased at a specific price, given supply. a schedule that establishes the price of a good. a schedule that shows how much will be purchased at various prices during a particular period, all other things unchanged. the amount that will be bought at a specific price. Question 4 10 / 10 points The primary difference between a change in demand and a change in the quantity demanded is: Question options: a change in demand is a movement along the demand curve, and a change in quantity demanded is a shift in the demand curve.

a change in quantity demanded is a movement along the demand curve, and a change in demand is a shift in the demand curve. both a change in quantity demanded and a change in demand are shifts in the demand curve, only in different directions. both a change in quantity demanded and a change in demand are movements along the demand curve, only in different directions.

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