The demand curve slopes down because:

As goods get cheaper we buy more of them

If the price of a good increases, supply will:

Stay the same; quantity supplied will increase

Why don't doctors fix their own cars?

Their opportunity cost is too high

What is the opportunity cost of playing Overwatch for a night?

The next best thing you could do besides play Overwatch

Which of the following would cause the demand curve to shift right in the market for apples?

Scientists discover apples can cure cancer

If Chipotle decides to sell burritos for $2 more than the equilibrium price, there will be a:

Surplus/Excess Supply of Burritos

Which of the following would cause the supply curve to shift left in the market for apples?

The price of gasoline increases

Why does the supply curve slope up?

As prices go up producers are willing to make more of a good

studbud

AP Macro Unit 1 Review

20 termsStudBud Administration21 plays

A quiz featuring Basics of Economics

Flashcards20 cardsFPractice quizPHost liveL

Questions 20

Answers

1
If you were facing the front entrance to Central High School and turned around, you would be:
Facing East
Facing West
Facing South
Facing North
2
If the price of Ford trucks increases, demand for Chevy trucks will:
Stay the same
Decrease
Increase
3
This diagram shows:
What an economy can produce
Supply and Demand
Lines and dots
The business Cycle
4
The demand curve slopes down because:
The inverse relationship between price and quantity
As goods get cheaper we buy more of them
As goods get cheaper we buy less of them
It costs more to produce less of a good
5
If the price of a good increases, supply will:
Decrease
Increase
Stay the same; quantity supplied will decrease
Stay the same; quantity supplied will increase
6
If the price of printers increases, the demand for printer paper will:
Increase
Stay the same
Decrease
7
Why don't doctors fix their own cars?
They are too busy as doctors
They don't want to hurt their hands
They don't know how to fix cars
Their opportunity cost is too high
8
What is the opportunity cost of playing Overwatch for a night?
The next best thing you could do besides play Overwatch
There is no cost, you already paid for the game
The sum of all things you could do besides play Overwatch
It depends on the weather outside
9
Consumers believe Ford SUV's are unsafe. All other things being equal, demand for them will:
Increase
Stay the same (quantity demanded will increase)
Stay the same (quantity demanded will decrease)
Decrease
10
Which of the following would cause the demand curve to shift right in the market for apples?
The price of pears (a substitute) decreases
The price of apples goes down
Scientists discover apples can cure cancer
Apples are found to have lethal amounts of arsenic in them
11
Which of these has the highest top speed?
Devonta Freeman of the Atlanta Falcons
A cheetah running through Falcon Heights
Usain Bolt on Falcon Heavy
A peregrine Falcon
12
An increasing cost PPC is:
Concave (bowed inward)
A straight line sloping up
A straight line sloping down
Convex (bowed outward)
13
If Chipotle decides to sell burritos for $2 more than the equilibrium price, there will be a:
Large group of people contracting e. Coli poisoning
Surplus/Excess Supply of Burritos
Shortage of Burritos
Line around the corner
14
Which of the following would cause the supply curve to shift left in the market for apples?
The price of apples goes up
The price of gasoline increases
The price of pears decreases
Jet fuel can't melt steel beams
15
Which of these is the most expensive?
A 1-ct. diamond ring
A batch of hot takes
A Mercedes Benz G-Wagen
A bacon, egg, and cheese biscuit from McDonald's
16
How many tattoos doe Mr. Jents have?
0
9
1
3
17
Which of these is the largest?
An elephant
A sequoia tree
A blue whale
The Sun
18
Why does the supply curve slope up?
As prices go up, people buy more of a good
As prices go up producers are willing to make more of a good
It becomes cheaper to make each additional unit
Producers don't charge as much for each additional unit
19
What is the last State Title won by Central High School?
Debate
Badminton
Girls Basketball
Football
20
What room are you in right now?
4303
3402
3304
3404

AP Macro Unit 1 Review Flashcards | StudBud