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Macroeconomics Study Set 21
Quiz 4: Supply and Demand
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Question 221
Essay
Draw in a new demand curve,D1,on the graph,showing a decrease in demand.What happens to price and quantity?
Question 222
Short Answer
If demand falls,what happens to equilibrium price and quantity?
Question 223
Short Answer
When quantity demanded is greater than quantity supplied,there is a _____________.
Question 224
Short Answer
-Find equilibrium price and quantity.
Question 225
Short Answer
If supply falls,what happens to equilibrium price and quantity?
Question 226
Short Answer
Price floors keep the price _____ equilibrium price;price ceilings keep price _____ equilibrium price.
Question 227
Short Answer
When quantity supplied is greater than quantity demanded,there is a ____________.
Question 228
Short Answer
Laws that set maximum legal interest rates are called _____.
Question 229
Essay
-Draw in a new supply curve,S1,on figure,showing an increase in supply.What happens to price and quantity?
Question 230
Short Answer
If supply rises,what happens to equilibrium price and quantity?
Question 231
Short Answer
The demand curve displays the wishes of _____________.
Question 232
Short Answer
The price system is constantly sending __________ and ___________ thousands of signals.
Question 233
Essay
-Find equilibrium price and quantity.