stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Macro 1 - demand, supply, and equilibrium Flashcards | StudBud
Explore
/
Macro 1 - demand, supply, and equilibrium
Macro 1 - demand, supply, and equilibrium
5 terms
·
StudBud Administration
·
47 plays
Macro economics
Flashcards
5 cards
F
Practice quiz
P
Host live
L
Questions
5
Answers
1
If supply decreases, and demand decreases how does price or quantity change?
Quantity increases, and price increases
Quantity decreases, and price decreases
Quantity does not change, price decreases
Quantity decreases, and price is unknown
2
If the price is set above the equilibrium, there will be a surplus.
True
False
3
Which of the following determinants decreases the demand for bottled water?
Bottled water is shown to be much healthier than tap water
Consumers expect bottled water to be cheaper in the future
Income increases
Number of consumers increases
4
Which is not a determinant of supply?
Income
Number of producers
Related goods
Input prices
5
Changes in supply cause changes in demand and vice versa
False
True
