Economics Ch. 6

Economics Ch. 6

11th - 12th Grade

20 Qs

quiz-placeholder

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Economics Ch. 6

Economics Ch. 6

Assessment

Quiz

Other Sciences, Specialty

11th - 12th Grade

Easy

Used 8+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the quantity supplied equals the quantity demanded, what has occured?

prices increase

equilibrium

prices decrease

there is a shortage

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Low prices cause buyers to...

substitute other items

buy less

buy more

postpone buying

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What effect does a bumper crop have on the price of that crop?

no effect

equilibrium

decrease

increase

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When did the most rationing occur in the US?

Hurricane Katrina

1970's energy crisis

WWII

WWI

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do price floors and ceilings prevent?

shortages

surpluses

prices reaching equilibrium

benefits to consumers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who benefits from rent control?

people who do maintenance and repairs on the building

owners of rent-controlled apartments

tenants in rent-controlled apartments

people with children

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What causes price changes most of the time?

government policy

changes in supply and demand

changes in supply only

changes in demand only

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