# Saint ECO202 Final Exam latest may 2016

Jul 1st, 2016
Studypool Tutor
Price: \$30 USD

Tutor description

Question 1. Question : When the price of a good falls, there will be __________. an outward shift in the good's demand curve both an outward shift in the good's demand curve and a movement along the good's demand curve a movement along the good's demand curve no change in quantity demanded Question 2. Question : If the price of Pepsi increases, then there will be ________ of Pepsi. a decrease in the supply an increase in the supply an increase in the quantity supplied a decrease in the quantity supplied Question 3. Question : Refer to the figure below. The equilibrium price and quantity are __________. image \$2 and 12 units \$6 and 9 units \$8 and 6 units \$10 and 1 unit Question 4. Question : In the automobile industry, workers have just negotiated a new contract giving workers a large raise. There has also been an increase in the number of licensed drivers who are in the market for a new car. In the market for new automobiles, the effects that these changes will have

Word Count: 2074
Showing Page: 1/8
Saint ECO202 Final Exam latest 2016 mayReport this Question as InappropriateQuestion1. Question :When the price of a good falls, there will be __________.an outward shift in the good's demand curveboth an outward shift in the good's demand curve and a movement along the good's demandcurvea movement along the good's demand curveno change in quantity demandedQuestion 2. Question :If the price of Pepsi increases, then there will be ________ of Pepsi.a decrease in the supplyan increase in the supplyan increase in the quantity supplieda decrease in the quantity suppliedQuestion 3. Question :Refer to the figure below. The equilibrium price and quantity are __________.image\$2 and 12 units\$6 and 9 units\$8 and 6 units\$10 and 1 unitQuestion 4. Question :In the automobile industry, workers have just negotiated a new contract giving workers a largeraise. There has also been an increase in the number of licensed drivers who are in the market fora new car. In the market for new automobiles, the effects that these changes will have on theequilibrium price and quantity are: __________.price will increase, and quantity will decreaseprice will increase, and the effect on quantity is indeterminateprice will decrease, and quantity will increaseprice will decrease, and the effect on quantity is indeterminateQuestion 5. Question :In a market, the rationing function of prices results in __________.long queues or waiting linesa price ceilingequilibriuma shorta

## Review from student

Studypool Student
" Thanks for the help. "

1820 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors