Which of the following would INCREASE the demand for potato chips?

Doctors announce that potato chips are a healthy snack.

Which of the following would decrease the demand for jelly?

An increase in the price for peanut butter.

Which of the following MOST reinforces the Law of Demand?

Law of Diminishing Marginal Utility

Which of the following would cause an increase in the supply for french fries?

New government subsidies for the french fry industry.

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AP Micro Unit 2 Part 1

10 termsStudBud Administration645 plays

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Questions 10

Answers

1
Which of the following would INCREASE the demand for potato chips?
Doctors announce that potato chips are an unhealthy snack.
Increase in the price for potato chips
Decrease in the price for potato chips.
Doctors announce that potato chips are a healthy snack.
2
The Law of _____ states that there is an inverse relationship between price and quantity.
Demand
Diminishing Marginal Utility
Economics
Supply
3
Which of the following is NOT a shifter of supply?
Changes in technology
Input costs
Prices of complementary goods
Government taxes and subsidies
4
Which of the following would decrease the demand for jelly?
An increase in the price for jelly.
A decrease in the price for jelly.
An increase in the price for peanut butter.
An decrease in the price for peanut butter.
5
Which of the following MOST reinforces the Law of Demand?
Law of Supply
Scarcity
Law of Increasing Marginal Utility
Law of Diminishing Marginal Utility
6
Which of the following is NOT a shifter of demand?
Changes in input costs
Consumer tastes and preferences
Price of substitutes
Future expectations
7
The Law of _____ states that there is direct relationship between price and quantity.
Economics
Diminishing Marginal Utility
Demand
Supply
8
Which of the following would cause an increase in the supply for french fries?
New government taxes on the french fry industry.
New government subsidies for the french fry industry.
An increase in the price of french fries.
A decrease in the price of french fries.
9
The price of beef increased so you bought chicken instead. This demonstrates the _____
Substitution Effect
Complementary Effect
Law of Supply
Law of Demand
10
Hot dog prices increased so you didn't buy hot dogs or hot dog buns. These goods are _____.
substitutes
normal
inferior
complements

AP Micro Unit 2 Part 1 Flashcards | StudBud

AP Micro Unit 2 Part 1

10 termsStudBud Administration645 plays

AP Micro Unit 2 Part 1

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
Which of the following would INCREASE the demand for potato chips?
Doctors announce that potato chips are an unhealthy snack.
Increase in the price for potato chips
Decrease in the price for potato chips.
Doctors announce that potato chips are a healthy snack.
2
The Law of _____ states that there is an inverse relationship between price and quantity.
Demand
Diminishing Marginal Utility
Economics
Supply
3
Which of the following is NOT a shifter of supply?
Changes in technology
Input costs
Prices of complementary goods
Government taxes and subsidies
4
Which of the following would decrease the demand for jelly?
An increase in the price for jelly.
A decrease in the price for jelly.
An increase in the price for peanut butter.
An decrease in the price for peanut butter.
5
Which of the following MOST reinforces the Law of Demand?
Law of Supply
Scarcity
Law of Increasing Marginal Utility
Law of Diminishing Marginal Utility
6
Which of the following is NOT a shifter of demand?
Changes in input costs
Consumer tastes and preferences
Price of substitutes
Future expectations
7
The Law of _____ states that there is direct relationship between price and quantity.
Economics
Diminishing Marginal Utility
Demand
Supply
8
Which of the following would cause an increase in the supply for french fries?
New government taxes on the french fry industry.
New government subsidies for the french fry industry.
An increase in the price of french fries.
A decrease in the price of french fries.
9
The price of beef increased so you bought chicken instead. This demonstrates the _____
Substitution Effect
Complementary Effect
Law of Supply
Law of Demand
10
Hot dog prices increased so you didn't buy hot dogs or hot dog buns. These goods are _____.
substitutes
normal
inferior
complements