What might have caused the shift in the supply curve shown in this diagram?

Removal of a subsidy for an industry

What might have caused the shift in the demand curve shown in the diagram?

Rise in the price of a substitute

Which factor would NOT cause the shift in the PPF shown in the diagram?

A fall in the unemployment rate

What might cause the social cost curve to lie above the private cost curve?

Production creates negative externalities

Identify the factor that might have caused the shift in AD shown in the diagram

An increase in quantitative easing

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Curves in Economics

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Economists like their curves. This quiz gives you a chance to shine on some of the main curves in your course!

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Questions 11

Answers

1
What might have caused the shift in the supply curve shown in this diagram?
A fall in the cost of raw materials
A rise in labour productivity
Entry of new firms into the market
Removal of a subsidy for an industry
2
Look carefully!: This diagram shows the possible effects of?
Trade liberalisation
Removing a domestic subsidy
Joining a customs union
Introducing an import quota
3
The curve comes from data on global inequality. It is also known as the
Lorenz Curve
Gini Curve
Elephant Curve
Kuznets Curve
4
What might have caused the shift in the demand curve shown in the diagram?
Government subsidy to producers
Rise in the price of a substitute
Rise in direct taxation
Fall in the price of product itself
5
Which curve shows how interest rates on bonds vary by the time length of the loan?
Risk management curve
Base interest rate curve
Yield curve
Date to maturity curve
6
Which factor would NOT cause the shift in the PPF shown in the diagram?
A fall in the unemployment rate
Increased labour productivity
Increased innovation
A fall the price of new technology
7
Which short-run cost curve are you being asked to identify?
Average Variable Cost
Marginal Cost
Average Fixed Cost
Average Total Cost
8
What might cause the social cost curve to lie above the private cost curve?
The government has taxed producers
The government has set a high minimum price
Production creates negative externalities
Consumption creates positive externalities
9
Which market structure is shown with these curves?
Perfect competition
Duopoly
Contestable market
Monopolistic competition
10
Identify the factor that might have caused the shift in AD shown in the diagram
An increase in value added tax
An increase in quantitative easing
An increase in carbon taxes
An increase in household saving
11
This is the long-run equilibrium in which market structure?
Perfect contestable market
Monopoly
Monopolistic competition
Natural monopoly

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