COBA ACTUAL EXAM WITH CORRECT ACTUAL
QUESTIONS AND CORRECTLY WELL DEFINED
ANSWERS LATEST ALREADY GRADED A+
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Terms in this set (66)
If the average household income D) Demand will shift to the right
increases and there is relatively
little change in the price of a
normal good then
A) Supply curve will shift to the left
B) Quantity demanded will move
farther down the demand curve
C) Demand will shift to the left
D) Demand will shift to the right
The demand curve for a normal D) Downward sloping because of the income and
good is substitution effects of price changes
A) Upward sloping because firms
produce more at higher prices
B) Upward sloping because higher-
priced goods are of higher quality
C) Vertical
D) Downward sloping because of
the income and substitution effects
of price changes
,A decrease in the price of a D) Shift the demand curve of the other
complementary good will commodity to the right
A) Shift the demand curve of the
other commodity to the left
B) Increase the price paid for a
substitute good
C) Shift the supply curve of the
other commodity to the left
D) Shift the demand curve of the
other commodity to the right
Which one of the following C) The price of cars increase
changes will cause the demand
curve for gasoline to shift to the left
A) The price of gasoline increases
B) The supply of gasoline decreases
C) The price of cars increase
D) The price of cars decrease
Tennis rackets and tennis balls are D) Complementary goods
A)Substitute goods
B) Independent goods
C) Inferior goods
D) Complementary goods
, A supply curve illustrates the A) Price and quantity supplied
relationship between
A) Price and quantity supplied
B)Price and consumer tastes
C) price and quantity demanded
D) Supply and demand
In relation to the laws of supply and D) Decrease the equilibrium price and increase
demand, an increase in supply will the equilibrium quantity exchanged
A) Increase the equilibrium price
and the equilibrium quantity
exchanged
B) Decrease the equilibrium price
and the equilibrium quantity
exchanged
C) Increase the equilibrium price
and decrease the equilibrium
quantity exchanged
D) Decrease the equilibrium price
and increase the equilibrium
quantity exchanged
An increase in the market supply of D) Increase in the quantity of the beef demanded
beef would result in a(n)
A) increase in the price of beef
B) Decrease in the price of beef
C) Increase in the price of pork
D) Increase in the quantity of the
beef demanded
QUESTIONS AND CORRECTLY WELL DEFINED
ANSWERS LATEST ALREADY GRADED A+
Save
Terms in this set (66)
If the average household income D) Demand will shift to the right
increases and there is relatively
little change in the price of a
normal good then
A) Supply curve will shift to the left
B) Quantity demanded will move
farther down the demand curve
C) Demand will shift to the left
D) Demand will shift to the right
The demand curve for a normal D) Downward sloping because of the income and
good is substitution effects of price changes
A) Upward sloping because firms
produce more at higher prices
B) Upward sloping because higher-
priced goods are of higher quality
C) Vertical
D) Downward sloping because of
the income and substitution effects
of price changes
,A decrease in the price of a D) Shift the demand curve of the other
complementary good will commodity to the right
A) Shift the demand curve of the
other commodity to the left
B) Increase the price paid for a
substitute good
C) Shift the supply curve of the
other commodity to the left
D) Shift the demand curve of the
other commodity to the right
Which one of the following C) The price of cars increase
changes will cause the demand
curve for gasoline to shift to the left
A) The price of gasoline increases
B) The supply of gasoline decreases
C) The price of cars increase
D) The price of cars decrease
Tennis rackets and tennis balls are D) Complementary goods
A)Substitute goods
B) Independent goods
C) Inferior goods
D) Complementary goods
, A supply curve illustrates the A) Price and quantity supplied
relationship between
A) Price and quantity supplied
B)Price and consumer tastes
C) price and quantity demanded
D) Supply and demand
In relation to the laws of supply and D) Decrease the equilibrium price and increase
demand, an increase in supply will the equilibrium quantity exchanged
A) Increase the equilibrium price
and the equilibrium quantity
exchanged
B) Decrease the equilibrium price
and the equilibrium quantity
exchanged
C) Increase the equilibrium price
and decrease the equilibrium
quantity exchanged
D) Decrease the equilibrium price
and increase the equilibrium
quantity exchanged
An increase in the market supply of D) Increase in the quantity of the beef demanded
beef would result in a(n)
A) increase in the price of beef
B) Decrease in the price of beef
C) Increase in the price of pork
D) Increase in the quantity of the
beef demanded
