POST TEST BANK 2026 QUESTIONS WITH
SOLUTIONS GRADED A+
◉ An increase in the price of a good would be illustrated on a demand
graph as a. Answer: Movement along the demand curve upward.
◉ If the number of consumers in the market for good A increases, what
will happen to the equilibrium price and quantity of good A? Answer:
Equilibrium price and quantity will both increase
◉ According to the law of demand, as a price of a good or service
increases, the. Answer: Quantity demanded of the good or service will
decrease.
◉ If producers expect the price of a good to rise, what will happen to the
good's equilibrium price and quantity? Answer: Equilibrium price will
increase and equilibrium quantity will decrease
◉ If a good is considered "normal" by economists, an increase in
consumers' incomes will result in a decrease in the demand for the good.
Answer: False
◉ If two goods are complements, an increase in the price of one good
will cause a decrease in the demand for the other. Answer: True
SOLUTIONS GRADED A+
◉ An increase in the price of a good would be illustrated on a demand
graph as a. Answer: Movement along the demand curve upward.
◉ If the number of consumers in the market for good A increases, what
will happen to the equilibrium price and quantity of good A? Answer:
Equilibrium price and quantity will both increase
◉ According to the law of demand, as a price of a good or service
increases, the. Answer: Quantity demanded of the good or service will
decrease.
◉ If producers expect the price of a good to rise, what will happen to the
good's equilibrium price and quantity? Answer: Equilibrium price will
increase and equilibrium quantity will decrease
◉ If a good is considered "normal" by economists, an increase in
consumers' incomes will result in a decrease in the demand for the good.
Answer: False
◉ If two goods are complements, an increase in the price of one good
will cause a decrease in the demand for the other. Answer: True
