All the following shift the demand curve for automobiles to the right except:

a brand new automobile dealership opens in town.

If the demand curve shifts to the left, we can predict:

quantity supplied will fall and price will fall

If the cost of computer components falls, then

the supply curve for computers shifts to the right

When the supply curve shifts outwards, what is the effect on equilibrium price and quantity?

Price decreases, quantity increases

If a sin tax is placed on sales of alcohol,

the supply curve shifts to the left.

When the government taxes suppliers for their goods, what effect does it have on the market?

The supply curve shifts inwards

studbud

"Shifting Demand and Supply"

12 termsStudBud Administration137 plays

Imported from external platform

Flashcards12 cardsFPractice quizPHost liveL

Questions 12

Answers

1
All the following shift the demand curve for automobiles to the right except:
a brand new automobile dealership opens in town.
Consumer income rise across the country.
Consumers expect the price of automobiles to rise in the future.
the price of gasoline falls.
2
At the equilibrium price, the quantity exchanged in this market will be:
190
245
220
250
3
The price at which there is neither surplus nor shortage is called:
the adjustment price.
the equal price.
the fair price.
the market-clearing price.
4
If the demand curve shifts to the left, we can predict:
price will rise and quantity supply will rise
quantity supplied will fall and price will fall
price will fall and quantity supplied will rise
quantity demanded will fall and supply will rise
5
Which diagram best illustrates the effect of a rise in crude oil prices on the gasoline market?
c
b
a
d
6
If the cost of computer components falls, then
the demand curve for computers shifts to the right.
the supply curve for computers shifts to the left
the demand curve for computers shifts to the left.
the supply curve for computers shifts to the right
7
When the supply curve shifts outwards, what is the effect on equilibrium price and quantity?
Price decreases, quantity decreases
Price decreases, quantity increases
Price increases, quantity decreases
Price increases, quantity increases
8
What happens in the market for airline travel when the price of traveling by rail decreases?
The demand curve shifts left
The demand curve shifts right.
The supply curve shifts right.
The supply curve shifts left
9
If a sin tax is placed on sales of alcohol,
the demand curve shifts to the right.
the demand curve shifts to the left.
the supply curve shifts to the left.
the supply curve shifts to the right.
10
When the government taxes suppliers for their goods, what effect does it have on the market?
The supply curve shifts outwards
The demand curve slopes upwards
The demand curve shifts outwards
The supply curve shifts inwards
11
Equilibrium price:
Is unaffected by taxes
Is set by price ceilings
Is determined by aggregate supply
Is market-clearing
12
Which of the following provides an example of complementary goods?
Beef and pork
French fries and ketchup
Milk and orange juice
Pepsi and Coca-Cola

"Shifting Demand and Supply" Flashcards | StudBud