Week 2 Quiz (Chapter 3)
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Part 1 of 1 - 100.0 Points
10.0 Points
Question 1 of 10
A shift of a demand curve to the right, all other things unchanged, will:
A.increase equilibrium price and quantity.
B.decrease equilibrium price and quantity.
C.decrease quantity and increase price.
D.increase quantity and decrease price.
Answer Key: A
10.0 Points
Question 2 of 10
If the current price is above the equilibrium price, we would expect:
A.quantity demanded to exceed quantity supplied.
B.upward pressure on price.
C.quantity supplied to exceed quantity demanded.
D.no change in the market price.
Answer Key: C
10.0 Points
Question 3 of 10
, Demand is defined as:
A.an amount that is purchased at a specific price, given supply.
B.a schedule that establishes the price of a good.
C.a schedule that shows how much will be purchased at various prices during a particular
period, all other things unchanged.
D.the amount that will be bought at a specific price.
Answer Key: C
10.0 Points
Question 4 of 10
The primary difference between a change in demand and a change in the quantity demanded is:
A.a change in demand is a movement along the demand curve, and a change in quantity
demanded is a shift in the demand curve.
B.a change in quantity demanded is a movement along the demand curve, and a change in
demand is a shift in the demand curve.
C.both a change in quantity demanded and a change in demand are shifts in the demand
curve, only in different directions.
D.both a change in quantity demanded and a change in demand are movements along the
demand curve, only in different directions.
Answer Key: B
10.0 Points
Question 5 of 10
A negative relationship between the quantity demanded and price is called the law of ______.
A.demand
B.diminishing marginal returns
Return to Assessment List
Part 1 of 1 - 100.0 Points
10.0 Points
Question 1 of 10
A shift of a demand curve to the right, all other things unchanged, will:
A.increase equilibrium price and quantity.
B.decrease equilibrium price and quantity.
C.decrease quantity and increase price.
D.increase quantity and decrease price.
Answer Key: A
10.0 Points
Question 2 of 10
If the current price is above the equilibrium price, we would expect:
A.quantity demanded to exceed quantity supplied.
B.upward pressure on price.
C.quantity supplied to exceed quantity demanded.
D.no change in the market price.
Answer Key: C
10.0 Points
Question 3 of 10
, Demand is defined as:
A.an amount that is purchased at a specific price, given supply.
B.a schedule that establishes the price of a good.
C.a schedule that shows how much will be purchased at various prices during a particular
period, all other things unchanged.
D.the amount that will be bought at a specific price.
Answer Key: C
10.0 Points
Question 4 of 10
The primary difference between a change in demand and a change in the quantity demanded is:
A.a change in demand is a movement along the demand curve, and a change in quantity
demanded is a shift in the demand curve.
B.a change in quantity demanded is a movement along the demand curve, and a change in
demand is a shift in the demand curve.
C.both a change in quantity demanded and a change in demand are shifts in the demand
curve, only in different directions.
D.both a change in quantity demanded and a change in demand are movements along the
demand curve, only in different directions.
Answer Key: B
10.0 Points
Question 5 of 10
A negative relationship between the quantity demanded and price is called the law of ______.
A.demand
B.diminishing marginal returns
