Click Clickon onthe thebutton buttontotogo gototothe theQuestion problem © 2013 Pearson Demand and Supply CLICKER QUESTIONS © 2013 Pearson Click Clickon onthe thebutton buttontotogo gototothe theQuestion problem Checkpoint 4.1 Checkpoint 4.2 Checkpoint 4.3 Question Question 11 Question Question 44 Question Question 77 Question Question 22 Question Question 55 Question Question 88 Question Question 33 Question Question 66 Question Question 99 Question Question 10 10 © 2013 Pearson CHECKPOINT 4.1 Question When the price of a cell phone falls and other things remain the same, the quantity of cell phones demanded , and the demand for cell phone A B C D E is unchanged; increases decreases; is unchanged decreases; decreases increases; is unchanged increases; increases © 2013 Pearson CHECKPOINT 4.1 Question The shift of the demand curve for pizza illustrated in the figure could be the result of A a rise in income if pizza is a normal good B a fall in the price of fried chicken, a substitute for pizza C consumers coming to believe that pizza is unhealthy D the belief that pizza will fall in price next month E a fall in the price of a pizza © 2013 Pearson CHECKPOINT 4.1 Question Pizza and tacos are substitutes If the price of a pizza rises, then _ A the demand for pizzas decreases and the demand for tacos increases B the demand for both goods decreases C the quantity of tacos demanded increases, and the quantity of pizza demanded decreases D the quantity of pizza demanded decreases, and the demand for tacos increases E the demand for each good decreases because both are normal goods CHECKPOINT 4.2 Question The quantity supplied of a good, service, or resource is during a specified period and at a specified price A B C D E the amount that people are able to sell the amount that people are willing to sell the amount that people are able and willing to sell the amount that people are willing and able to buy the amount sold © 2013 Pearson CHECKPOINT 4.2 Question An increase in the productivity of workers who sew jeans will result in _ A the quantity of jeans supplied increasing B the supply of jeans increasing C buyers demanding more jeans because they are now more efficiently produced D buyers demanding fewer jeans because their price will fall, which signals lower quality E some change but the impact on the supply of jeans is impossible to predict © 2013 Pearson CHECKPOINT 4.2 Question Suppose the price of leather used to produce shoes increases The higher price of leather the supply of shoes, and the supply curve of shoes A B C D E increases; shifts rightward increases; shifts leftward decreases; shifts rightward decreases; shifts leftward does not change; does not shift © 2013 Pearson CHECKPOINT 4.3 Question Which of the following statements is correct? i.A surplus of a good puts downward pressure on the price of the good ii.A shortage of a good puts upward pressure on the price of the good iii.At the market equilibrium, there’s no surplus or shortage A B C D E i and ii i and iii ii and iii i, ii, and iii only iii © 2013 Pearson CHECKPOINT 4.3 Question If the price of lettuce used to produce tacos increases, then the equilibrium price of a taco , and the equilibrium quantity of tacos A B C D E rises; increases rises; decreases falls; increases falls; decreases does not change; decreases © 2013 Pearson CHECKPOINT 4.3 Question When the number of buyers of ceiling fans increases, A quantity of ceiling fans demanded increases, and a surplus of ceiling fans occurs B demand for ceiling fans increases, and the price of a ceiling fan rises C demand for ceiling fans increases, and a surplus of ceiling fans occurs D supply of ceiling fans increases, and the price of a ceiling fan doesn’t change E both the demand for and supply of ceiling fans increases © 2013 Pearson CHECKPOINT 4.3 Question 10 If the supply of milk decreases by 45 cartons, the price of milk A B C D E falls to $1.25 a carton rises to $2.00 carton rises by 25 cents a carton falls by 25 cents a carton doesn’t change © 2013 Pearson The Market for Milk ... Question Which of the following statements is correct? i.A surplus of a good puts downward pressure on the price of the good ii.A shortage of a good puts upward pressure on the price of the good... the number of buyers of ceiling fans increases, A quantity of ceiling fans demanded increases, and a surplus of ceiling fans occurs B demand for ceiling fans increases, and the price of a ceiling... Question 10 If the supply of milk decreases by 45 cartons, the price of milk A B C D E falls to $1.25 a carton rises to $2.00 carton rises by 25 cents a carton falls by 25 cents a carton doesn’t