Eco561 Chap 1 Quiz
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Student CHAPTER 1 Name: Student BRANDON.GIBBONS@LIVE.COM Email:
Summary of Results
100% Correct of 8 Scored items: 8 Correct: 100% 0 Incorrect: 0%
Site Title: Economics UOP custom CW Book UOP-custom course for Economics Title: Book Case Author: Location Chapter 1 > Lecture Exam Questions on Site: Date/Time August 6, 2010 at 6:50 PM (EDT) Submitted: More information about scoring
1.
According to the law of demand: As prices rise, ceteris paribus Your quantity demanded decreases. Answer:
2.
In response to news reports that taking aspirins daily can reduce an individual's risk of a heart attack, there will most likely be Your an increase in the demand for aspirins. Answer:
3.
The number of pizzas this restaurant sells per week increases from 500 to 700. This could be caused by
Your an increase in the price of the pizza. Answer:
4.
Which of the following is consistent with the law of supply? Your As the price of calculators rises, the quantity supplied of Answer: calculators increases, ceteris paribus
5.
Suppose that video game cartridges are a normal good. If the income of video game players increases, you predict that in the market for videotapes Your both equilibrium price and quantity will increase. Answer:
6.
Apples and oranges are substitute goods. A freeze in Florida destroyed a good portion of the orange crop. Ceteris Paribus, Your the price of both apples and oranges will increase. Answer:
7.
An excess demand for a product serves as a signal that Your more resources should be allocated to producing this product. Answer:
8.
At the same time that part of the lettuce crop was destroyed consumer income also decreased. Ceteris
Print this page The Print feature requires scripting to function. Your browser either does not support scripting or you have turned scripting off. To print this page, first highlight the text, then select Print from the File menu.
Student CHAPTER 1 Name: Student BRANDON.GIBBONS@LIVE.COM Email:
Summary of Results
100% Correct of 8 Scored items: 8 Correct: 100% 0 Incorrect: 0%
Site Title: Economics UOP custom CW Book UOP-custom course for Economics Title: Book Case Author: Location Chapter 1 > Lecture Exam Questions on Site: Date/Time August 6, 2010 at 6:50 PM (EDT) Submitted: More information about scoring
1.
According to the law of demand: As prices rise, ceteris paribus Your quantity demanded decreases. Answer:
2.
In response to news reports that taking aspirins daily can reduce an individual's risk of a heart attack, there will most likely be Your an increase in the demand for aspirins. Answer:
3.
The number of pizzas this restaurant sells per week increases from 500 to 700. This could be caused by
Your an increase in the price of the pizza. Answer:
4.
Which of the following is consistent with the law of supply? Your As the price of calculators rises, the quantity supplied of Answer: calculators increases, ceteris paribus
5.
Suppose that video game cartridges are a normal good. If the income of video game players increases, you predict that in the market for videotapes Your both equilibrium price and quantity will increase. Answer:
6.
Apples and oranges are substitute goods. A freeze in Florida destroyed a good portion of the orange crop. Ceteris Paribus, Your the price of both apples and oranges will increase. Answer:
7.
An excess demand for a product serves as a signal that Your more resources should be allocated to producing this product. Answer:
8.
At the same time that part of the lettuce crop was destroyed consumer income also decreased. Ceteris