What would happen if Dr. Oz stated that blueberries reduces the risks for cancer?

demand curve shifts right, prices rise

shows alternative ways to use an economy's resources.

production possibilities graph (PPC)

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CH 6 Quiz

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equilibrium

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Questions 15

Answers

1
If the government subsidizes a business, the supply curve will.......
shift right
shift left
shift off the graph
remain the same
2
What occurs if the price ceiling is set below the equilibrium?
decreased demand
increased supply
shortage
surplus
3
Quantity supplied & quantity demanded are equal.
market clearing price
excess demand
price ceiling
surplus
4
How are public goods paid for?
corporations
fund raisers
the government collects taxes
donations
5
What would happen if Dr. Oz stated that blueberries reduces the risks for cancer?
supply curve shifts right, price rises
supply shifts right, prices fall
demand curve shifts left, and the price falls
demand curve shifts right, prices rise
6
more sellers.......
demand decreases
supply curve shifts left
supply curve shifts right
supply curve stays the same
7
What is an example of a price floor?
price ceiling
shortage
minimum wage
rent control
8
prices are established by....
the federal reserve
labor unions
supply and demand
the govt. and congress
9
Which is an example of human capital?
paid vacations
unemployment benefits
new machines
worker training and education
10
Price rises, quantity demand falls. Price falls, QD rises.
Equilibrium
Law of Demand
Price Floor
Law of Supply
11
The price of a good rises & the quantity supplied rises.
subsidy
law of demand
excise tax
law of supply
12
The desire and ability to pay for a good.
supply
demand
disequilibrium
law of supply
13
Florida oranges, Wisconsin cheese, Virginia tobacco are examples of.....
work training
specialization
capital
labor
14
shows alternative ways to use an economy's resources.
equilibrium
supply curve
demand curve
production possibilities graph (PPC)
15
What occurs when the price of a good is below the equilibrium price?
equilibrium
shortage
surplus
price floor

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