Home Library Explore SAT

Home Library Explore SAT

AP Micro Review 1 Flashcards | StudBud

Explore/AP Micro Review 1

AP Micro Review 1

10 terms·StudBud Administration·134 plays

Demand Curves, Supply Curves, Equilibrium

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
Which statement describes the graph?
Shift of the supply curve
Shift of the demand curve
Movement along the supply curve
Movement along the demand curve
2
Point (q2, p1) is reached by what shifts of the curves?
Decrease Demand; Decrease in Supply
Increase Demand; Increase in Supply
Decrease Demand; Increase Supply
Increase Demand; Decrease Supply
3
Which statement describes the shift of the demand curve?
Decrease in demand
Decrease in price
Increase in price
Increase in demand
4
What are the coordinates of the new equilibrium?
(Q,P)
(Q1, P)
(Q1, P1)
(Q, P1)
5
Which would cause the supply curve to shift right?
Increase in population
Decrease in technology
Decrease in number of producers
Decrease in price of resources
6
What would cause a movement from point A to B?
Increase in price
Decrease in price
Decrease in popularity
Increase in population
7
Which describes the change in equilibrium?
Price Decreases; Quantity Increases
Price Increases; Quantity Increases
Price Increases; Quantity Decreases
Price Decreases; Quantity Decreases
8
What curve does this graph show?
Equilibrium Curve
Demand Curve
Supply Curve
Production Possibilities Curve
9
Which would NOT cause the demand curve to shift right?
Increase in price
Decrease in price of complementary good
Increase in population
Increase in price of substitute good
10
Which describes the change in equilibrium?
Increase in price
No change in quantity
Increase in quantity
No change in price