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Supply and Demand Day 2

Authored by Albert Esposito

History

11th Grade

Used 1+ times

Supply and Demand Day 2
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What does this graph show?

Shortage
Surplus
Supply Table
Equilibrium

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What is the Equilibrium Price?

1
2
3
4

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The diagram represents a(n)

increase in supply
decrease in supply
change in quantity supplied
none of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The United States imports many cars from Japan. Suppose that the price of material(s) that Japan uses in making cars declines. What is the INITIAL (first) effect this will have on the Japanese car manufacturers?

The input costs of Japanese made cars to the US will increase 
The quantity supply of Japanese made cars sold in the US will decrease 
The input costs of Japanese made cars in the US will decrease 
The quantity demand of Japanese made cars sold in the US will decrease

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Americans revive their love of SUV’s and the newly remodeled, but still “gas guzzling” Hummer. What happens to the market for gasoline?

Demand for gasoline will decrease 
Demand for gasoline will increase
Demand for gasoline will stay the same

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Due to a disappointing economy, Americans are cutting back on the family vacation road trips. What happens to the market for gasoline?

Demand for gasoline will decrease 
Demand for gasoline will increase
Demand for gasoline will stay the same

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Costs of producing gasoline has increased due to rising energy costs. What happens to the market for gasoline?

Supply for gasoline will decrease 
Supply for gasoline will increase
Supply for gasoline will stay the same

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