AP Micro Unit 2A/2B Review

AP Micro Unit 2A/2B Review

11th - 12th Grade

60 Qs

quiz-placeholder

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AP Micro Unit 2A/2B Review

AP Micro Unit 2A/2B Review

Assessment

Quiz

Social Studies

11th - 12th Grade

Medium

Used 38+ times

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60 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A shortage will develop when...

Quantity supplied is greater than quantity demanded
Quantity demanded is greater than quantity supplied
The govt gives taxes to businesses
quantity supplied and quantity demanded are equal

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following describes when the government sets a price floor?

The price cannot go any higher

The price cannot go any lower

The price will remain the same

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following describes when the government sets a price ceiling?

The price cannot go any higher
The price cannot go any lower
The price will remain the same

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a price floor?

equilibrium
rent control
minimum wage

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If hot dog buns become cheaper, the demand for hot dogs will...

Increase
Decrease
Remain the same
Have no effect

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a new machine is developed that cuts the time for making lawn mowers in half, the SUPPLY of lawn mowers

increases
decreases
no change

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

When prices rise for elastic goods, what happens to total revenue?

Total Revenue Goes Down
Total Revenue Goes Up
Total Revenue Stays The Same

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