Chapter 3_2: Demand and Supply

Thời gian làm bài: 40 phút

Question 1: A normal good is a good for which
a. there are very few complements.
b. demand decreases when income increases.
c. demand increases when income increases.
d. there are few substitutes.

Question 2: Most goods
a. have vertical demand curves.
b. have vertical supply curves.
c. are normal goods.
d. are complements to each other.

Question 3: A normal good is a good for which demand
a. increases when income increases.
b. decreases when population increases.
c. increases when population increases.
d. decreases when income increases.

Question 4: Inferior goods are those for which demand increases as
a. income decreases.
b. income increases.
c. the price of a substitute rises.
d. the price of a substitute falls.

Question 5: By definition, an inferior good is a
a. normal substitute good.
b. good for which demand decreases when its price rises.
c. want that is not expressed by demand.
d. good for which demand decreases when income increases.

Question 6: If a good is an inferior good, then purchases of that good will decrease when
a. the demand for it increases.
b. population increases.
c. income increases.
d. the price of a substitute rises.

Question 7: An inferior good is a good for which demand
a. increases when population increases.
b. decreases when income increases.
c. decreases when population increases.
d. increases when income increases.

Question 8: When economists speak of preferences as influencing demand, they are referring to
a. the availability of a good to all income classes.
b. directly observable changes in prices and income.
c. the excess of wants over the available supplies.
d. an individual's attitudes toward goods and services.

Question 9: In 2000 there were 200,000 gas grills demanded at a price of $500. In 2001 there were more than 200,000 gas grills demanded at the same price. This increase could be the result any of the following EXCEPT
a. an increase in the supply of gas grills.
b. an increase in population.
c. an increase in income if gas grills are a normal good.
d. a fall in the price of natural gas, a complement for a gas grill.

Question 10: A change in the price of a good
a. shifts the good's demand curve but does not cause a movement along it.
b. does not shift the good's demand curve but does cause a movement along it.
c. shifts the good's demand curve and also causes a movement along it.
d. neither shifts the good's demand curve nor causes a movement along it.

Question 11: A reduction in the price of a good
a. does not shift the good's demand curve leftward but does decrease the quantity demanded.
b. shifts the good's demand curve leftward but does not decrease the quantity demanded.
c. shifts the good's demand curve leftward and also decreases the quantity demanded.
d. neither shifts the good's demand curve leftward nor decreases the quantity demanded.

Question 12: A decrease in quantity demanded caused by an increase in price is represented by a
a. movement up and to the left along the demand curve.
b. movement down and to the right along the demand curve.
c. leftward shift of the demand curve.
d. rightward shift of the demand curve.

Question 13: A change in which of the following alters buying plans for cars but does NOT shift the demand curve for cars?
a. a 10 percent decrease in the price of car insurance
b. a 20 percent increase in the price of a car
c. a 5 percent increase in people's income
d. an increased preference for walking rather than driving

Question 14: Which of the following would NOT shift the demand curve for turkey?
a. a change in tastes for turkey
b. a decrease in the price of ham
c. an increase in income
d. a change in the price of a turkey

Question 15: When we say demand increases, we mean that there is a
a. movement to the right along a demand curve.
b. movement to the left along a demand curve.
c. leftward shift of the demand curve.
d. rightward shift of the demand curve.

Question 16: In the figure above, which movement reflects an increase in demand?

Used from questions 14 to 25

a. from point a to point e
b. from point a to point c
c. from point a to point b
d. from point a to point d

Question 17: In the figure above, which movement reflects a decrease in demand?
a. from point a to point d
b. from point a to point e
c. from point a to point c
d. from point a to point b

Question 18: In the figure above, which movement reflects a decrease in quantity demanded but NOT a decrease in demand?
a. from point a to point c
b. from point a to point e
c. from point a to point d
d. from point a to point b

Question 19: In the figure above, which movement reflects how consumers would react to an increase in the price of a non-fruit snack?
a. from point a to point b
b. from point a to point d
c. from point a to point c
d. from point a to point e

Question 20: In the figure above, which movement reflects an increase in the price of a substitute for fruit snacks?
a. from point a to point d
b. from point a to point e
c. from point a to point b
d. from point a to point c

Question 21: In the figure above, which movement reflects an increase in the price of a complement for fruit snacks?
a. from point a to point b
b. from point a to point d
c. from point a to point e
d. from point a to point c

Question 22: In the figure above, which movement reflects how consumers would react to an increase in the price of a fruit snack that is expected to occur in the future?
a. from point a to point b
b. from point a to point e
c. from point a to point c
d. from point a to point d

Question 23: In the figure above, which movement reflects an increase in income if fruit snacks are an inferior good?
a. from point a to point d
b. from point a to point c
c. from point a to point b
d. from point a to point e

Question 24: In the figure above, which movement reflects an increase in income if fruit snacks are a normal good?
a. from point a to point d
b. from point a to point e
c. from point a to point b
d. from point a to point c

Question 25: In the figure above, which movement reflects a decrease in population?
a. from point a to point d
b. from point a to point c
c. from point a to point e
d. from point a to point b

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