Saint ECO202 Final Exam latest may 2016

Jul 1st, 2016
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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

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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

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