Unit 1 AP Macroeconomics Quiz

What causes a leftward and rightward shift in the demand curve?

Which of these is NOT a principal factor that shifts the demand curve?

• Changes in income

• Changes in inventory

• Changes in tastes

• Changes in number of customers

Which way would the demand curve shift if peanut butter became higher in demand because of jelly’s recent price drop?

“A _________ market is a market in which there are many buyers and sellers of the same good or service.”?

• Contemptive

• Cooperative

• Competitive

• Conservative

A (a)   is a shift of the demand curve.

A pair of goods are substitutes because…...

Sometimes a fall in the price of one good makes consumers more willing to buy another good. Such pairs are known as what?

The (a)   shows the relationship between quantity demanded and price for an individual consumer.

When the quantity demanded reaches 2 months, what does the price become?

When no individual would be better off doing something different, this is called….?

• Equilateral

• Equator

• Equilibrium

• Equity