100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
[Solved] ECON 101 Week 2 Quiz Ch 3 $5.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. University
  4.  
  5. ECON 101 Week 2 Quiz Ch 3 (ECON101WEEK2QUIZCH3)

Exam (elaborations)

[Solved] ECON 101 Week 2 Quiz Ch 3

3 reviews
 599 views  7 purchases
  • Course
  • ECON 101 Week 2 Quiz Ch 3 (ECON101WEEK2QUIZCH3)
  • Institution
  • University

ECON 101 Week 2 Quiz Ch 3 Week 2 Quiz (Chapter 3) Return to Assessment List Part 1 of 1 - 100.0 Points Question 1 of 10 10.0 Points A shift of a demand curve to the right, all other things unchanged, will: A.increase equilibrium price and quantity. B.de...

[Show more]

Preview 2 out of 5  pages

Document information

  • July 23, 2020
  • 5
  • 2019/2020
  • Exam (elaborations)
  • Questions & answers

Subjects

  • econ 101 week 2 quiz ch 3

Written for

  • University
  • ECON 101 Week 2 Quiz Ch 3 (ECON101WEEK2QUIZCH3)
All documents for this subject (1)

3  reviews

review-writer-avatar

By: josesanchez_08 • 1 year ago

review-writer-avatar

By: amartinez28120 • 1 year ago

review-writer-avatar

By: Semi87 • 3 year ago

Seller

avatar-seller
solutions

Reviews received

Content preview

Week 2 Quiz (Chapter 3)


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

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 solutions. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $5.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77254 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$5.99  7x  sold
  • (3)
  Add to cart