A. inelastic; increase
B. elastic; increase
C. elastic, decrease
D. none of the above
If demand is __________ then price cuts will _________ spending? Read More »
Economics Mcqs, Supply and Demand A. shift aggregate supply to the right
B. shift aggregate supply to the left
C. shift aggregate demand to the right
D. shift aggregate demand to the left
Increased levels of spending on imports ? Read More »
Economics Mcqs, Supply and Demand A. shift aggregate supply to the right
B. shift aggregate supply to the left
C. shift aggregate demand to the right
D. shift aggregate demand to the left
Increase unemployment benefits and less incentive to work would ? Read More »
Economics Mcqs, Supply and Demand A. increase consumption
B. increasing export revenue
C. increased taxation revenue
D. increased investment
Which of the following would decease aggregate demand ? Read More »
Economics Mcqs, Supply and Demand A. Aggregate supply is price inelastic
B. Aggregate supply is price elastic
C. Aggregate supply has a unitary price elasticity
D. Aggregate demand is price inelastic
An increase in aggregate demand will have most effect on prices if ? Read More »
Economics Mcqs, Supply and Demand A. Reduce the general price level and reduce national income
B. Reduce the general price level and increase national income
C. Increase the general price level and reduce national income
D. Increase the general price level and increase national income
A shift in aggregate supply is likely to ? Read More »
Economics Mcqs, Supply and Demand A. +2
B. +0.5
C. -2
D. -0.5
A. Demand shifts outwards
B. The supply curve shifts inwards
C. The quantity supplied falls when the price falls
D. The supply curve shifts outwards
A contraction in supply occurs when ? Read More »
Economics Mcqs, Supply and Demand A. In the short run rather than the long run
B. If factors of production are relatively immobile between industries
C. If there are very few producers
D. If it is easy to expand output
Supply is likely to be more price elastic ? Read More »
Economics Mcqs, Supply and Demand A. The quantity consumers would like to buy in an ideal world
B. The quantity producers are willing and able to sell at each and every price all other things unchanged
C. The quantity producers are willing and able to sell at each and every income all other things unchanged
D. The quantity producers are willing and able to sell at each and every point in time all other things unchanged
Which best describes a supply curve ? Read More »
Economics Mcqs, Supply and Demand