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ECO 204 Week 1 Quiz
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ECO 204 Week 1 Quiz 1. Demand for a good will always rise when (Points : 1) the price of a complementary good falls.
2. Opportunity costs are (Points : 1) only dollar expenditures.
3. Which of the following is a macroeconomic issue? (Points : 1) The price of butter
4. In Collegia, a small college town, the market for parking spaces is in equilibrium at a going price of $5 a day. There are 1,500 spaces and they are all sold every day with no unsatisfied buyers. Now the college takes in 200 more students, each of whom also wants a parking space at $5 a day. If there is a normal, upward-sloping supply curve, what will happen when the market has time to adjust? (Points : 1) There will be 1,700 parking spaces at $5 a day.
5. If the demand for coffee decreases as income decreases, coffee is a(n): (Points : 1) normal good.
6. All but which one of the following could shift the demand curve? (Points : 1) A shift of the supply curve
7. When price changes, one should expect a change in (Points : 1) supply.
8. Ceteris paribus, as applied in demand theory, means (Points : 1) accounting for all possible simultaneous changes.
9. Along with the other social sciences, economics is concerned with (Points : 1) the behavior of human beings as individuals.
10. If left alone, a market-directed economy will (Points : 1) invariably provide the correct economic choices.
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ECO 204 Week 1 Quiz
http://www.fres-courses.com/product/eco-204-week-1-quiz |
ECO 204 Week 1 Quiz 1. Demand for a good will always rise when (Points : 1) the price of a complementary good falls.
2. Opportunity costs are (Points : 1) only dollar expenditures.
3. Which of the following is a macroeconomic issue? (Points : 1) The price of butter
4. In Collegia, a small college town, the market for parking spaces is in equilibrium at a going price of $5 a day. There are 1,500 spaces and they are all sold every day with no unsatisfied buyers. Now the college takes in 200 more students, each of whom also wants a parking space at $5 a day. If there is a normal, upward-sloping supply curve, what will happen when the market has time to adjust? (Points : 1) There will be 1,700 parking spaces at $5 a day.
5. If the demand for coffee decreases as income decreases, coffee is a(n): (Points : 1) normal good.
6. All but which one of the following could shift the demand curve? (Points : 1) A shift of the supply curve
7. When price changes, one should expect a change in (Points : 1) supply.
8. Ceteris paribus, as applied in demand theory, means (Points : 1) accounting for all possible simultaneous changes.
9. Along with the other social sciences, economics is concerned with (Points : 1) the behavior of human beings as individuals.
10. If left alone, a market-directed economy will (Points : 1) invariably provide the correct economic choices.
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ECO 204 Week 1 Quiz
http://www.fres-courses.com/product/eco-204-week-1-quiz |
ECO 204 Week 1 Quiz 1. Demand for a good will always rise when (Points : 1) the price of a complementary good falls.
2. Opportunity costs are (Points : 1) only dollar expenditures.
3. Which of the following is a macroeconomic issue? (Points : 1) The price of butter
4. In Collegia, a small college town, the market for parking spaces is in equilibrium at a going price of $5 a day. There are 1,500 spaces and they are all sold every day with no unsatisfied buyers. Now the college takes in 200 more students, each of whom also wants a parking space at $5 a day. If there is a normal, upward-sloping supply curve, what will happen when the market has time to adjust? (Points : 1) There will be 1,700 parking spaces at $5 a day.
5. If the demand for coffee decreases as income decreases, coffee is a(n): (Points : 1) normal good.
6. All but which one of the following could shift the demand curve? (Points : 1) A shift of the supply curve
7. When price changes, one should expect a change in (Points : 1) supply.
8. Ceteris paribus, as applied in demand theory, means (Points : 1) accounting for all possible simultaneous changes.
9. Along with the other social sciences, economics is concerned with (Points : 1) the behavior of human beings as individuals.
10. If left alone, a market-directed economy will (Points : 1) invariably provide the correct economic choices.
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