Biology Forums - Study Force

Which of the following will cause a movement upward along a supply curve?
 a. Increases in raw-material costs.
  b. Increases in labor costs.
  c. Increases in the cost of machinery.
  d. Increases in the market price of a good, other things being equal.

QUESTION 2

When economists say the quantity supplied of a product has decreased, they mean the:
 a. supply curve has shifted to the left.
  b. supply curve has shifted to the right.
  c. price of the product has risen, and consequently, suppliers are producing more of it.
  d. price of the product has fallen, and consequently, suppliers are producing less of it.

QUESTION 3

When economists say the quantity supplied of a product has increased, they mean the:
 a. supply curve has shifted to the left.
  b. supply curve has shifted to the right.
  c. price of the product has risen, and consequently, suppliers are producing more of it.
  d. price of the product has fallen, and consequently, suppliers are producing less of it.

QUESTION 4

A supply curve:
 a. has a negative slope.
  b. is based on the assumption of a stable demand curve.
  c. illustrates the negative relationship between price and quantity supplied.
  d. illustrates the positive relationship between price and quantity supplied.
  e. shifts about in random fashion.

QUESTION 5

The supply curve reflects the:
 a. inverse relationship between price and quantity offered.
  b. positive relationship between demand and supply.
  c. negative relationship between price and quantity bought.
  d. positive relationship between price and quantity bought.
  e. positive relationship between price and quantity offered.

QUESTION 6

Which of the following corresponds to the definition of the supply curve?
 a. It depicts a positive relationship between income and quantity supplied.
  b. It depicts a positive relationship between technology and prices.
  c. It depicts a positive relationship between prices and quantity supplied.
  d. It depicts a negative relationship between prices and quantity supplied.
  e. It depicts a proportional relationship between prices and quantity supplied.

QUESTION 7

Tasha decides that when homes in her neighborhood are selling for 150,000 she will not sell her home. When average prices rise to 175,000, she decides that she will put her home on the market. This is an example of:
 a. market demand.
  b. market-day supply.
  c. an excess supply of homes.
  d. a positively-sloped supply curve.
  e. a negatively-sloped supply curve.

[Answer to ques. #1]  d

[Answer to ques. #2]  d

[Answer to ques. #3]  c

[Answer to ques. #4]  d

[Answer to ques. #5]  e

[Answer to ques. #6]  c

[Answer to ques. #7]  d

This is very helpful, my teacher this year is not good