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TRE E
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Economic Question?
The Consumer Price Index (CPI)
a) measures the prices of all goods produced in the economy
b) includes prices of raw materials
c) includes only the prices of domestically produced consumer goods
d) includes the prices of some used consumer goods
e) is found by averaging the prices of all goods consumed in the economy
1 AntwortEconomicsvor 6 JahrenEconomic Question #3?
When a market is in equilibrium,
a) quantity demanded equals quantity supplied
b) quantity demanded exceeds quantity supplied
c) the economy must be at a point along the production possibilities frontier
d) the law of demand is equivalent to the law of supply
e) the demand curve is identical to the supply curve
2 AntwortenEconomicsvor 6 JahrenEconomics Question #3?
If steel manufacturers expected that the price of steel was going to rise in the next six months, this would
a) lead to a decreased supply of steel
b) have no change in the competitive market for steel
c) lead to a decreased demand for steel
d) lead to a decrease in the quantity of steel supplied to the market
e) increase the future demand for automobiles
1 AntwortEconomicsvor 6 JahrenEconomic Question #2?
An increase in quantity supplied can be caused by an
a) rise in resource input prices
b) tax levied on the producer
c) increase in price
d) decrease in quantity demanded
e) decrease in the number of firms in the market
1 AntwortEconomicsvor 6 JahrenEconomics Question?
An increase in the price of a particular good, with all other variables constant, causes
A.) a movement along a given supply curve to a lower quantity supplied
B.) a shift to a different supply curve with lower quantities supplied
C.) a movement along a given supply curve to a higher quantity supplied
D.) no movement along a given supply curve unless demand also changes
E.) a shift to a different supply curve with higher quantities supplied
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