Week 2 Macro/Micro

This change in the market causes Equilibrium Prices to go_______ and Quantities to go______

If supply shifts to the left prices will __________ and quantities will _________.

Thischange in the market causes Equilibrium Prices to go _______ and Quantities to go _______

Look at the graph.  If this is the Market for Green Beans what might cause this to happen?

Look at the graph.  If this is the Market for Green Beans what might cause this to happen?

If demand shifts to the left prices will __________ and quantities will _________.

What is the X-axis label for a supply and demand graph?

Look at the graph.  If this is the Market for Green Beans what might cause this to happen?

If the price of Pepsi goes up, what will happen to the demand for Coke?

The following products would be considered complements.

This change in the market causes Equilibrium Prices to go_______ and Quantities to go_______

Whatis it called in a market when buyers buy exactly the same amount as sellers want to sell?

Any arrangement that brings buyers and sellers together is called...

What two shifts (demand and supply) will definitely cause equilibrium prices to decrease?

This change in the market causes Equilibrium Prices to go ______ and Quantities to go_______

Look at the graph.  If this is the Market for Green Beans what might cause this to happen?

Which curve is upward sloping?

What is the Y-axis label for a supply and demand graph?

Which of the following would increase the price of Dog Food?

If your income increases what will happen to your demand for an inferior good (like Spam)?