NATE AC Practice 3 Exam Questions with Certified Answers Graded A+
3 views 0 purchase
Course
Nate commercial
Institution
Nate Commercial
When the price of a product increases, there is
a. a shift in demand.
b. movement along the demand curve.
c. a change in elasticity of demand.
d. no effect on quantity demanded. - Answer: b
On the demand curve, price and quantity demanded are
a. inversely related.
b. directly related.
C....
NATE AC Practice 3
Exam Questions
with Certified
Answers Graded
A+
Denning [Date] [Course title]
, When the price of a product increases, there is
a. a shift in demand.
b. movement along the demand curve.
c. a change in elasticity of demand.
d. no effect on quantity demanded. - Answer: b
On the demand curve, price and quantity demanded are
a. inversely related.
b. directly related.
C. unrelated.
d.not relevant. - Answer: A
During the Dust Bowl of the 1930's, many farmers agricultural goods were destroyed. What happened to
the market for agricultural goods?
a. Increase in demand b.
Decrease in demand
C.Increase in supply
d. Decrease in supply - Answer: D
What is the Law of Supply?
a.
When demand goes up, supply decreases.
b.
Supply shifts to the right due to technology.
C.
When price increases, quantity supplied decreases.
d.
When price increases, quantity supplied increases. - Answer: D
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller YourExamplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
