UNC ECON 101 Midterm 1 Exam Questions With Correct Answers.

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UNC ECON 101 Midterm 1 Exam Questions With Correct Answers.

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2026/2027

Institution ECON 101

Course ECON 101

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UNC ECON 101 Midterm 1 Exam Questions With Correct Answers.

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UNC ECON 101 Midterm 1 Exam Questions
With Correct Answers

When demand increases... - CORRECT ANSWER✔✔-The equilibrium
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price and quantity both rise.
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When demand decreases... - CORRECT ANSWER✔✔-The equilibrium
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price and quantity both fall.
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When supply increases... - CORRECT ANSWER✔✔-The equilibrium price
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falls and the equilibrium quantity rises.
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When supply decreases... - CORRECT ANSWER✔✔-The equilibrium
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price rises and the equilibrium quantity falls.
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When demand increases and supply decreases... - CORRECT
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ANSWER✔✔-The equilibrium price rises, but the change in the
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equilibrium quantity is ambiguous.
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When demand decreases and supply increases... - CORRECT
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ANSWER✔✔-The equilibrium price falls, but the change in equilibrium
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quantity is ambiguous.
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, When both demand and supply increase... - CORRECT ANSWER✔✔-The
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equilibrium quantity rises, but the change in equilibrium price is
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ambiguous.

When both demand and supply decrease... - CORRECT ANSWER✔✔-The
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equilibrium quantity falls, but the change in equilibrium price is
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ambiguous.

What are the shifters of supply? - CORRECT ANSWER✔✔-Changes in
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input prices, changes in the prices of related goods/services, changes in
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technology, changes in expectations, changes in the number of
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producers

What are the shifters of demand? - CORRECT ANSWER✔✔-Changes in
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income, changes in the prices of related goods/services, changes in
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taste/preference, changes in expectations, changes in the number of
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consumers

Points inside the PPF are... - CORRECT ANSWER✔✔-Feasible but not
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efficient

Points on the PPF are... - CORRECT ANSWER✔✔-Feasible and efficient
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Uploaded on: August 24, 2026
Number of pages: 13
Written in: 2026/2027
Type: Exam (elaborations)
Contains: Questions & answers

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