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ASD FINAL TEST EXAM ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 600 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+€17,51
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ASD FINAL TEST EXAM ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 600 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+
ASD FINAL TEST EXAM ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE 600 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+
ASD FINAL TEST EXAM 2024-2025
ACTUAL EXAM 2 VERSIONS (VERSION A
AND B) COMPLETE 600 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100%
CORRECT ANSWERS) /ALREADY
GRADED A+
VERSION A
The downward slope of a demand curve.
A. represents the law of demand
B. shows that as the price of a good rises,
consumers increase the quantity they demand.
C. indicates how the quantity demanded changes
when incomes rise and the good is a normal good.
D. indicates how demand changes when incomes
rise and the good is a normal good.
E. indicates how demand changes when the price
changes and the good is a normal good. A.
represents the law of demand
,We observe a market in which the price has risen
and the quantity sold has risen as well. This could be
caused by a(an):
A. increase in demand.
B. increase in supply.
C. decrease in demand.
D. decrease in supply. A. increase in demand.
Given the supply curve of butter, a reduction in the
price of margarine will tend to:
A. increase the demand for margarine.
B. lower the price of butter.
C. raise the price of butter.
D. increase the demand for butter. B. lower the
price of butter.
If the quantity supplied of a product is less than the
quantity demanded, then:
,A. there is a shortage of the product.
B. the product is a normal good.
C. there is a surplus of the product.
D. the product is an inferior good. A. there is a
shortage of the product.
If demand for a good decreases and supply remains
constant equilibrium price:
Hint: To answer this question draw the graph and
shift the curves.
A. and quantity will both increase.
B. will increase, and equilibrium quantity will
decrease.
C. will decrease, and equilibrium quantity will
increase.
D. and quantity will both decrease. D. and quantity
will both decrease.
The market system automatically corrects a surplus
condition in a competitive market by:
Your answer was correct.
, Answer Correct
raising the price of the commodity in question while
increasing the quantity demanded.
raising the price of the commodity in question while
decreasing the quantity demanded.
reducing the price of the commodity in question
while increasing the quantity demanded. X
reducing the price of the commodity in question
while decreasing the quantity demanded.
Other things being equal, how would the market for
bicycles be affected by an increase in the availability
and number of bicycle paths?
You incorrectly answered "an increase in prices and
a decrease in the quantity exchanged". Correct
answer shown below.
Answer Correct
an increase in prices and a decrease in the quantity
exchanged
a decrease in prices and an increase in the quantity
exchanged
an increase in prices and an increase in the quantity
exchanged X
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