MACRO EXAM 2 STUDY UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Question:
1. Refer to Figure 4-24. All else equal, an increase in the productivity of turkey
farmers would cause a move from
a. DA to DB.
b. DB to DA.
c. x to y.
d. y to x.
Answer:
d. y to x
Question:
2. Refer to Figure 4-24. All else equal, a sale on chicken would cause a move from
a. DA to DB.
b. DB to DA.
c. x to y.
d. y to x.
Answer:
a. DA to DB
,Question:
3. c. greater than or equal to 7
Answer:
Refer to Table 4-13. Suppose Harry, Darby, and Jake are the only demanders of
sandwiches and that the market demand violates the law of demand. Then, in the
table, the value of x must be
a. less than or equal to 5.
b. greater than or equal to 5.
c. greater than or equal to 7.
d. greater than or equal to 10.
Question:
4. c. Point C to point D
Answer:
Refer to Figure 4-26. Which of the following movements would illustrate the effect
in the market for wedding cakes resulting from a decrease in the number of pastry
chefs?
a. Point A to Point B
b. Point C to Point B
c. Point C to Point D
d. Point A to Point D
,Question:
5. b. Point C to Point B
Answer:
Refer to Figure 4-26. Which of the following movements would illustrate the effect
in the market for paper napkins as a result of a "Go Green" advertising campaign
encouraging people to use cloth napkins?
a. Point A to Point B
b. Point C to Point B
c. Point C to Point D
d. Point A to Point D
Question:
6. c. surplus of 400 units
Answer:
Refer to Figure 4-18. At a price of $35, there would be a
a. shortage of 400 units.
b. surplus of 200 units.
c. surplus of 400 units.
d. surplus of 600 units.
, Question:
7. c. Point C to Point D
Answer:
Refer to Figure 4-26. Which of the following movements would illustrate the effect
in the market for bullet-proof vests of an increase in the price of Kevlar?
a. Point A to Point B
b. Point C to Point B
c. Point C to Point D
d. Point A to Point D
Question:
8. Refer to Table 4-9. Which combination would produce an increase in equilibrium
price and an indeterminate change in equilibrium quantity?
a. A
b. B
c. C
d. D
Answer:
b. B
QUESTIONS AND CORRECT ANSWERS
Question:
1. Refer to Figure 4-24. All else equal, an increase in the productivity of turkey
farmers would cause a move from
a. DA to DB.
b. DB to DA.
c. x to y.
d. y to x.
Answer:
d. y to x
Question:
2. Refer to Figure 4-24. All else equal, a sale on chicken would cause a move from
a. DA to DB.
b. DB to DA.
c. x to y.
d. y to x.
Answer:
a. DA to DB
,Question:
3. c. greater than or equal to 7
Answer:
Refer to Table 4-13. Suppose Harry, Darby, and Jake are the only demanders of
sandwiches and that the market demand violates the law of demand. Then, in the
table, the value of x must be
a. less than or equal to 5.
b. greater than or equal to 5.
c. greater than or equal to 7.
d. greater than or equal to 10.
Question:
4. c. Point C to point D
Answer:
Refer to Figure 4-26. Which of the following movements would illustrate the effect
in the market for wedding cakes resulting from a decrease in the number of pastry
chefs?
a. Point A to Point B
b. Point C to Point B
c. Point C to Point D
d. Point A to Point D
,Question:
5. b. Point C to Point B
Answer:
Refer to Figure 4-26. Which of the following movements would illustrate the effect
in the market for paper napkins as a result of a "Go Green" advertising campaign
encouraging people to use cloth napkins?
a. Point A to Point B
b. Point C to Point B
c. Point C to Point D
d. Point A to Point D
Question:
6. c. surplus of 400 units
Answer:
Refer to Figure 4-18. At a price of $35, there would be a
a. shortage of 400 units.
b. surplus of 200 units.
c. surplus of 400 units.
d. surplus of 600 units.
, Question:
7. c. Point C to Point D
Answer:
Refer to Figure 4-26. Which of the following movements would illustrate the effect
in the market for bullet-proof vests of an increase in the price of Kevlar?
a. Point A to Point B
b. Point C to Point B
c. Point C to Point D
d. Point A to Point D
Question:
8. Refer to Table 4-9. Which combination would produce an increase in equilibrium
price and an indeterminate change in equilibrium quantity?
a. A
b. B
c. C
d. D
Answer:
b. B
