MACRO EXAM 2 STUDY QUESTIONS WITH VERIFIED ANSWERS
1. d. y to x 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.
2. 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.
3. c. greater than or Refer to Table 4-13. Suppose Harry, Darby, and Jake are
equal to 7 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.
4.
, MACRO EXAM 2 STUDY QUESTIONS WITH VERIFIED ANSWERS
c. Point C to point Refer to Figure 4-26. Which of the following movements
D 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
5. b. Point C to Point Refer to Figure 4-26. Which of the following movements
B would illustrate the effect in the market for paper napkins
as a result of a "Go Green" advertising campaign encour-
aging 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
6. c. surplus of 400 Refer to Figure 4-18. At a price of $35, there would be a
units a. shortage of 400 units.
b. surplus of 200 units.
c. surplus of 400 units.
d. surplus of 600 units.
, MACRO EXAM 2 STUDY QUESTIONS WITH VERIFIED ANSWERS
7. c. Point C to Point Refer to Figure 4-26. Which of the following movements
D 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
8. b. B 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
9. a. Point A to Point Refer to Figure 4-26. Which of the following movements
B would illustrate the effect in the market for doctor's visits of
an increase in the number of medical students graduating
from medical school and successfully completing their
residency programs?
a. Point A to Point B
b. Point C to Point B
c. Point C to Point D
d. Point A to Point D
10. d. $25 Refer to Table 4-12. If both members and non-members
are allowed to purchase tickets to this year's celebrity golf
1. d. y to x 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.
2. 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.
3. c. greater than or Refer to Table 4-13. Suppose Harry, Darby, and Jake are
equal to 7 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.
4.
, MACRO EXAM 2 STUDY QUESTIONS WITH VERIFIED ANSWERS
c. Point C to point Refer to Figure 4-26. Which of the following movements
D 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
5. b. Point C to Point Refer to Figure 4-26. Which of the following movements
B would illustrate the effect in the market for paper napkins
as a result of a "Go Green" advertising campaign encour-
aging 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
6. c. surplus of 400 Refer to Figure 4-18. At a price of $35, there would be a
units a. shortage of 400 units.
b. surplus of 200 units.
c. surplus of 400 units.
d. surplus of 600 units.
, MACRO EXAM 2 STUDY QUESTIONS WITH VERIFIED ANSWERS
7. c. Point C to Point Refer to Figure 4-26. Which of the following movements
D 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
8. b. B 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
9. a. Point A to Point Refer to Figure 4-26. Which of the following movements
B would illustrate the effect in the market for doctor's visits of
an increase in the number of medical students graduating
from medical school and successfully completing their
residency programs?
a. Point A to Point B
b. Point C to Point B
c. Point C to Point D
d. Point A to Point D
10. d. $25 Refer to Table 4-12. If both members and non-members
are allowed to purchase tickets to this year's celebrity golf
