AP Micro Unit 2

Front

A decrease in quantity demanded results in a movement upward and to the left along a demand curve.

Back

results in a movement upward and to the left along a demand curve.

Front

A movement upward and to the left along a demand curve is called a(n)

Back

decrease in quantity demanded.

Front

Which of the following would cause the demand curve to shift from Demand B to Demand C in the market for DVDs in the United States? Options: a decrease in the price of DVDs, a decrease in the price of DVD players, a change in consumer preferences toward watching movies in movie theaters rather than at home, a decrease in the number of people in the United States

Back

a decrease in the price of DVD players

Front

A decrease in the price of a good will

Back

decrease quantity supplied.

Front

The movement from Point A to Point B represents a(n)

Back

decrease in the quantity supplied.

Front

Which of the following would not shift the supply curve for iphones? Options: an increase in the price of iphones, a decrease in the number of sellers of iphone, an increase in the price of plastic, an input into the production of iphones, an improvement in the technology used to produce iphones

Back

an increase in the price of iphones

Front

In a given market, how are the equilibrium price and the market-clearing price related?

Back

They are the same price.

Front

Equilibrium quantity must decrease when demand

Back

decreases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease.

Front

The law of supply and demand asserts that

Back

the price of a good will eventually rise in response to an excess demand for that good.

Front

Graph shows which of the following?
(actually use this graph to answer the question)

Back

a decrease in quantity demanded and a decrease in supply