juddbasicacttest

Chapter 1. Judd Basic Activity Test

1.1 econtutorial: Supply and Demand

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Questions

Question

MC: According to the law of demand, when the price of a product decreases, the quantity demanded ________ . *A. increases B. decreases C. stays the same

Question

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

Question

FB: If demand increases and supply remains constant, the equilibrium price will _______ . *increase