Question 1

A shortage or a surplus can exist when the current price is equal to the equilibrium price.

Accepted Answer

A) True 
 B)False

Question 2

An increase in supply of a good is caused by:

Accepted Answer

A)  resource prices rising.
B)  a fall in the price of the good.
C)  an increase in the number of sellers.
D)  expectations of future price increases.E) None of the above
F) C) and D)

Question 3

Factor prices, returns from alternative activities, technology, number of firms, producer expectations, and natural events are often termed:

Accepted Answer

A)  demand determinants.
B)  demand quantities.
C)  supply prices.
D)  supply shifters.E) A) and B)
F) A) and C)

Exam 3: Demand and Supply

An increase in supply of a good is caused by:

Correct Answer
verified

A shortage or a surplus can exist when the current price is equal to the equilibrium price.

Correct Answer
verified

Factor prices, returns from alternative activities, technology, number of firms, producer expectations, and natural events are often termed:

Correct Answer
verified

Exam 3: Demand and Supply

An increase in supply of a good is caused by:

Correct AnswerverifiedShow Answer

A shortage or a surplus can exist when the current price is equal to the equilibrium price.

Correct AnswerverifiedShow Answer

Factor prices, returns from alternative activities, technology, number of firms, producer expectations, and natural events are often termed:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified