Student Name: Amita Patel
Student Email: amipatelbe@gmail.com
Site Title: Economics UOP custom CW
Book's Title: UOP-custom course for Economics
Book's Author: Case
Location on Site: Chapter 1 > Lecture Exam Questions
88% Correct of 8 Scored items:
7 correct: 88%
1 incorrect: 13%
Submitted on April 5, 2010 at 4:24 PM (EDT)
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Question 1
According to the law of demand: As prices rise, ceteris paribus
Correct: quantity demanded decreases.
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Question 2
In response to news reports that taking aspirins daily can reduce an individual's risk of a heart attack, there will most likely be
Correct: an increase in the demand for aspirins.
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Question 3
The number of pizzas this restaurant sells per week increases from 500 to 700. This could be caused by
Correct: an increase in the price of the pizza.
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Question 4
Which of the following is consistent with the law of supply?
Correct: As the price of calculators rises, the quantity supplied of calculators increases, ceteris paribus
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Question 5
Suppose that video game cartridges are a normal good. If the income of video game players increases, you predict that in the market for videotapes
Correct: both equilibrium price and quantity will increase.
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Question 6
Apples and oranges are substitute goods. A freeze in Florida destroyed a good portion of the orange crop. Ceteris Paribus,
Correct: the price of both apples and oranges will increase.
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Question 7
An excess demand for a product serves as a...
