juddbasicacttest

Chapter 1. Judd Basic Activity Test

1.1 econtutorial: Supply and Demand

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Questions

Question

According to the law of demand, when the price of a product decreases, the quantity demanded ________ .

A.
B.
C.

Question

The demand curve for a normal good will shift to the _____ if there is a decrease in income.

Question

If demand increases and supply remains constant, the equilibrium price will _______ .