N
nguye007
Guest
Some of these answers are just confusing me in AP Microeconomics for Demand and Supply and I'm still not understanding sections from the book even if I read it over 10 times. I want people to try to chose the best answer. Here goes:
1. Consumers regard Dell PCs and Apple PCs as substitutes. If the price of the Dell decreases, the
A. demand for Dell increase
B. demand for Apple increase
C. demand for Apple decrease
D. demand for Dell decrease
2. Water bottlers announce next month price of bottled water to increase. What occurs immediately?
A. quantity of bottled water demanded increase
B. quantitiy of bottled water demand decrease
C. demand for bottled water decrease
D. demand for bottled water increase
3. Supply curves
A. slope downward
B. slope upward
C. is a graph between quantity supplied of a good and price
D. B and C
E. A and B
4. When any influence on selling plans other than the price of the good changes there is a change in the
A. demand and supply of the good
B. demand for the good and quantity supplied of good
C. supply of good, but not demand
D. quantity of good supplied
E. demand for the good but not supply
5. Researchers have found a hybrid of corn that is cheaper to grow, this technological breakthrough
A. increase demand for corn
B. increase supply for corn
C. decrase supply for corn
D. A and C
E. A and B
6. Over the next several years, productivity of firms producing electric cars improve dramatically, The advance in productivity leads to
A. decrease in supply of electric cars, supply curve shifts left
B. decrease in supply of electric cars, supply curve shifts right
C. increase in supply of electric cars, supply curve shifts left
D. increase in supply of electric cars, supply curve shifts right
E. no change in supply, only change in quantity supplied of electric cars
7. Because of high cost for fuel, railroads have increased the price to haul freight. This change means that the
A. demand curve for hauling freight has shifted left
B. supply curve for hauling freight has shifted left
C. demand curve for hauling freight has shifted right
D. supply curve for hauling freight has shifted right
E. only change is the price is higher
8. Autoworkers negotiate a wage increase. How does this change affect the supply curve of cars?
A. left
B. right
C. does not shift
D. it will shift, but not enough info to tell direction of shift
E. creates movement downward along the supply curve
9. The market price for a pound of steak is $12 and equilibrium price per pound is $9. In this case there is a
A. shortage, price falls and quantity demanded increase
B. surplus, price falls and quantity demanded increase
C. shortage, price rise and quantity demanded decrease
D. surplus, price rise and quantity demanded increase
10. The price of bread rises. This could mean
A. decrease in supply of bread
B. increase in supply of bread
C. decrease in demand of bread
D. A and C
E. B and C
11. In GB, raising taxes on gas increase the cost of supplying gas. The equilibirum quantity of gas ___ and equilibrium price of gas ___.
A. increase, rise
B. increase, fall
C. decrease, rise
D. decrease, fall
E. same, rise
12. Kiwis and strawberries are substitutes for consumers. An inccrease in price of kiwi coupled with increase in number of strawberry growers ____ the equilibrium price of a pound of strawberries and ___ the equilibrium quantity of strawberrys.
A. raise, increase
B. probably change, increase
C. raise, probably change
D. lower, probably change
E. lowers, increase
13. Consider the market for camera film. If more people start to use digital cameras, which do not require film,
A. supply curve of film shifts right
B. demand curve for film shifts left
C.movement up along demand curve for film
D. movement down along demand curve for film
1. Consumers regard Dell PCs and Apple PCs as substitutes. If the price of the Dell decreases, the
A. demand for Dell increase
B. demand for Apple increase
C. demand for Apple decrease
D. demand for Dell decrease
2. Water bottlers announce next month price of bottled water to increase. What occurs immediately?
A. quantity of bottled water demanded increase
B. quantitiy of bottled water demand decrease
C. demand for bottled water decrease
D. demand for bottled water increase
3. Supply curves
A. slope downward
B. slope upward
C. is a graph between quantity supplied of a good and price
D. B and C
E. A and B
4. When any influence on selling plans other than the price of the good changes there is a change in the
A. demand and supply of the good
B. demand for the good and quantity supplied of good
C. supply of good, but not demand
D. quantity of good supplied
E. demand for the good but not supply
5. Researchers have found a hybrid of corn that is cheaper to grow, this technological breakthrough
A. increase demand for corn
B. increase supply for corn
C. decrase supply for corn
D. A and C
E. A and B
6. Over the next several years, productivity of firms producing electric cars improve dramatically, The advance in productivity leads to
A. decrease in supply of electric cars, supply curve shifts left
B. decrease in supply of electric cars, supply curve shifts right
C. increase in supply of electric cars, supply curve shifts left
D. increase in supply of electric cars, supply curve shifts right
E. no change in supply, only change in quantity supplied of electric cars
7. Because of high cost for fuel, railroads have increased the price to haul freight. This change means that the
A. demand curve for hauling freight has shifted left
B. supply curve for hauling freight has shifted left
C. demand curve for hauling freight has shifted right
D. supply curve for hauling freight has shifted right
E. only change is the price is higher
8. Autoworkers negotiate a wage increase. How does this change affect the supply curve of cars?
A. left
B. right
C. does not shift
D. it will shift, but not enough info to tell direction of shift
E. creates movement downward along the supply curve
9. The market price for a pound of steak is $12 and equilibrium price per pound is $9. In this case there is a
A. shortage, price falls and quantity demanded increase
B. surplus, price falls and quantity demanded increase
C. shortage, price rise and quantity demanded decrease
D. surplus, price rise and quantity demanded increase
10. The price of bread rises. This could mean
A. decrease in supply of bread
B. increase in supply of bread
C. decrease in demand of bread
D. A and C
E. B and C
11. In GB, raising taxes on gas increase the cost of supplying gas. The equilibirum quantity of gas ___ and equilibrium price of gas ___.
A. increase, rise
B. increase, fall
C. decrease, rise
D. decrease, fall
E. same, rise
12. Kiwis and strawberries are substitutes for consumers. An inccrease in price of kiwi coupled with increase in number of strawberry growers ____ the equilibrium price of a pound of strawberries and ___ the equilibrium quantity of strawberrys.
A. raise, increase
B. probably change, increase
C. raise, probably change
D. lower, probably change
E. lowers, increase
13. Consider the market for camera film. If more people start to use digital cameras, which do not require film,
A. supply curve of film shifts right
B. demand curve for film shifts left
C.movement up along demand curve for film
D. movement down along demand curve for film