Updated Macro Exam 2 Study Questions 2023//2024

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. a. DA to DB 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. c. greater than or equal to 7 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. c. Point C to point D 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 b. Point C to Point B 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 c. surplus of 400 units 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. c. Point C to Point D 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