422705
Descripción
Test por jackexamtime, actualizado hace más de 1 año
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Creado por jackexamtime
hace más de 10 años
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Pregunta 1
Pregunta
How do you arrive at equilibrium?
Respuesta
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It is where supply exceeds demand
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It is where demand is equal to supply
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It is where demand exceeds supply
Pregunta 2
Pregunta
Why is equilibrium important to consumers?
Respuesta
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Consumers want to know the price level
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Consumers do not want shortages of goods they demand
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Consumers do not want excess supply
Pregunta 3
Pregunta
When there is excess supply:
Respuesta
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There is downward pressure on prices
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There is upward pressure on prices
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There is downward pressure on quantity supplied
Pregunta 4
Pregunta
When demand increases:
Respuesta
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The equilibrium price decreases, and the equilibrium quantity decreases
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The equilibrium price decreases, and the equilibrium quantity increases
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The equilibrium price increases, and the equilibrium quantity increases
Pregunta 5
Pregunta
When demand decreases:
Respuesta
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The equilibrium price increases, and the equilibrium quantity increases
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The equilibrium price increases, and the equilibrium quantity decreases
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The equilibrium price decreases, and the equilibrium quantity decreases
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The equilibrium price decreases, and the equilibrium quantity increases
Pregunta 6
Pregunta
When supply decreases:
Respuesta
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The equilibrium price increases, and the equilibrium quantity increases
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The equilibrium price decreases, and the equilibrium quantity decreases
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The equilibrium price decreases, and the equilibrium quantity increases
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The equilibrium price increase, and the equilibrium quantity decreases
Pregunta 7
Pregunta
When supply increases:
Respuesta
-
The equilibrium price increases, and the equilibrium quantity decreases
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The equilibrium price decreases, and the equilibrium quantity decreases
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The equilibrium price increases, and the equilibrium quantity increases
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The equilibrium price decreases, and the equilibrium quantity increases
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