# Econ 101 week 2 quiz ch 3

ECON 101 Week 2 Quiz Ch 3

Week 2 Quiz (Chapter 3)

Part 1 of 1 –

100.0 Points

Question 1 of 10

10.0 Points

A shift of a demand curve to the right, all other things unchanged, will:

A.increase equilibrium price and quantity.

B.decrease equilibrium price and quantity.

C.decrease quantity and increase price.

D.increase quantity and decrease price.

Question 2 of 10

10.0 Points

If the current price is above the equilibrium price, we would expect:

A.quantity demanded to exceed quantity supplied.

B.upward pressure on price.

C.quantity supplied to exceed quantity demanded.

D.no change in the market price.

Question 3 of 10

10.0 Points

Demand is defined as:

A.an amount that is purchased at a specific price, given supply.

B.a schedule that establishes the price of a good.

C.a schedule that shows how much will be purchased at various prices during a particular period, all other things unchanged.

D.the amount that will be bought at a specific price.

Question 4 of 10

10.0 Points

The primary difference between a change in demand and a change in the quantity demanded is:

A.a change in demand is a movement along the demand curve, and a change in quantity demanded is a shift in the demand curve.

B.a change in quantity demanded is a movement along the demand curve, and a change in demand is a shift in the demand curve.

C.both a change in quantity demanded and a change in demand are shifts in the demand curve, only in different directions.

D.both a change in quantity demanded and a change in demand are movements along the demand curve, only in different directions.

Question 5 of 10

10.0 Points

A negative relationship between the quantity demanded and price is called the law of ______.

A.demand

B.diminishing marginal returns

C.market clearing

D.supply

Question 6 of 10

10.0 Points

The relationship between the quantity of a good or service sellers are willing and able to offer for sale and the independent variables that determine quantity is:

A.supply.

B.demand.

C.equilibrium.

D.disequilibrium.

Question 7 of 10

10.0 Points

A price below the equilibrium price will:

A.result in pressure for price to rise.

B.result in a surplus.

C.never be the case.

D.result in pressure for price to fall.

Question 8 of 10

10.0 Points

It is true that the equilibrium quantity will always go up if supply:

A.and demand both increase.

B.increases and demand decreases.

C.and demand both decrease.

D.decreases and demand remains unchanged.

Question 9 of 10

10.0 Points

The intersection of the supply and demand curves indicates:

A.the equilibrium solution in the market.

B.a surplus that will cause the price to fall.

C.a shortage that will cause the price to rise.

D.the quantity demanded exceeds the quantity supplied.

Question 10 of 10

10.0 Points

A decrease in supply means:

A.a shift to the left of the entire supply curve.

B.moving downward (to the left) along the supply curve with lower prices.

C.less will be demanded at every price.

D.more will be supplied at every price.

## Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
\$26
The price is based on these factors:
Number of pages
Urgency
Basic features
• Free title page and bibliography
• Unlimited revisions
• Plagiarism-free guarantee
• Money-back guarantee
On-demand options
• Writer’s samples
• Part-by-part delivery
• Overnight delivery
• Copies of used sources
Paper format
• 275 words per page
• 12 pt Arial/Times New Roman
• Double line spacing
• Any citation style (APA, MLA, Chicago/Turabian, Harvard)

# Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

### Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

### Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

### Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.