Mr. Wilson: AP Micro Topic # 2 Review

With the Min Wage at $10 how many workers are unemployed(Would like to work, but are unable to)

Effective price ceilings are inefficient because they

An increase in the $ for seasoning, which increases the $ of steak, will lead to a

A price floor set at $5 will result in

An increase in income leads to a decrease in demand, the good is

Which of the following will decrease the supply of rice?

A decrease in the price of butter would most likely decrease demand for

What happen in the market for tomatoes if a news story says salmonella is found in tomatoes

In the gov't established a quota of 1,000 in this market, the supply price would be

Which of the following is certainly true if demand and supply increase at the same time?

If the gov't established a min wage at $10, how many workers will benefit from the higher wage?

If the government established a quota of 1,000 in the market, the quota rent would be

Which of the following will increase the demand for disposable diapers

An increase in the numbers of buyers and a tech advance will cause

if the gov't established a quota of 1,000 in this market, the demand price would be

Expectations among hiking boot-makers that boot prices will rise in the future will result in

The equilibrium $ will rise, but equilibrium quantity may increase decrease or not change if

To be effective, a price ceiling must be set

A technological advance in textbook production will lead to which of the following