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155. Refer to Figure 4-24. All else equal, sellers expecting the price of turkey to rise in the future would cause a current
move from
a.
DA to DB.
b.
DB to DA.
c.
x to y.
d.
y to x.
Figure 4-25
The graph below pertains to the supply of paper to colleges and universities.
156. Refer to Figure 4-25. All else equal, an increase in the use of laptop computers for note-taking would cause a move
from
a.
x to y.
b.
y to x.
c.
SA to SB.
d.
SB to SA.
157. Refer to Figure 4-25. All else equal, buyers expecting paper to be more expensive in the future would cause a
current move from
a.
x to y.
b.
y to x.
c.
SA to SB.
d.
SB to SA.
158. Refer to Figure 4-25. All else equal, the return of college students to campus in the fall would cause a move from
a.
x to y.
b.
y to x.
c.
SA to SB.
d.
SB to SA.
159. Refer to Figure 4-25. All else equal, an increase in the price of the pulp used in the paper production process would
cause a move from
a.
x to y.
b.
y to x.
c.
SA to SB.
d.
SB to SA.
160. Refer to Figure 4-25. All else equal, sellers expecting the price of paper to decrease next month when many college
students leave campuses for the summer would cause a current move from
a.
x to y.
b.
y to x.
c.
SA to SB.
d.
SB to SA.
161. Refer to Figure 4-25. All else equal, a major paper manufacturer filing for bankruptcy and shutting down as a result
of an IRS tax evasion investigation would cause a move from
a.
x to y.
b.
y to x.
c.
SA to SB.
d.
SB to SA.
Figure 4-26
162. Refer to Figure 4-26. Which of the following movements would illustrate the effect in the market for golf balls of an
increase in green fees?
a.
Point A to Point B
b.
Point C to Point B
c.
Point C to Point D
d.
Point A to Point D
163. Refer to Figure 4-26. Which of the following movements would illustrate the effect in the market for paper napkins
as a result of a “Go Green” advertising campaign encouraging people to use cloth napkins?
a.
Point A to Point B
b.
Point C to Point B
c.
Point C to Point D
d.
Point A to Point D
164. Refer to Figure 4-26. Which of the following movements would illustrate the effect in the market for orange juice of
an announcement by the American Dental Association that orange juice erodes tooth enamel?
a.
Point A to Point B
b.
Point C to Point B
c.
Point C to Point D
d.
Point A to Point D
165. Refer to Figure 4-26. Which of the following movements would illustrate the effect in the market for swimming
lessons of an increase in the incomes of parents with school-aged children?
a.
Point A to Point B
b.
Point C to Point B
c.
Point C to Point D
d.
Point A to Point D
166. Refer to Figure 4-26. Which of the following movements would illustrate the effect in the market for Ramen
noodles of a decrease in the incomes of young adults, assuming that Ramen noodles are an inferior good?
a.
Point A to Point B
b.
Point C to Point B
c.
Point C to Point D
d.
Point A to Point D
167. Refer to Figure 4-26. Which of the following movements would illustrate the effect in the market for ballroom
dancing lessons resulting from the introduction of a popular new television show called “Dancing with the Stars”?
a.
Point A to Point B
b.
Point C to Point B
c.
Point C to Point D
d.
Point A to Point D
168. Refer to Figure 4-26. Which of the following movements would illustrate the effect in the market for bullet-proof
vests of an increase in the price of Kevlar?
a.
Point A to Point B
b.
Point C to Point B
c.
Point C to Point D
d.
Point A to Point D
169. Refer to Figure 4-26. Which of the following movements would illustrate the effect in the market for convertible
automobiles of an increase in the price of steel?
a.
Point A to Point B
b.
Point C to Point B
c.
Point C to Point D
d.
Point A to Point D
170. Refer to Figure 4-26. Which of the following movements would illustrate the effect in the market for wedding cakes
resulting from a decrease in the number of pastry chefs?
a.
Point A to Point B
b.
Point C to Point B
c.
Point C to Point D
d.
Point A to Point D
171. Refer to Figure 4-26. Which of the following movements would illustrate the effect in the market for chocolate chip
cookies of an improved high-speed mixer that allows bakers to produce cookies in less time?
a.
Point A to Point B
b.
Point C to Point B
c.
Point C to Point D
d.
Point A to Point D
172. Refer to Figure 4-26. Which of the following movements would illustrate the effect in the market for fences of a
decrease in the price of wood?
a.
Point A to Point B
b.
Point C to Point B
c.
Point C to Point D
d.
Point A to Point D
173. Refer to Figure 4-26. Which of the following movements would illustrate the effect in the market for doctor’s visits
of an increase in the number of medical students graduating from medical school and successfully completing their
residency programs?
a.
Point A to Point B
b.
Point C to Point B
c.
Point C to Point D
d.
Point A to Point D
Figure 4-27
Panel (a)
Panel (b)
Panel (c)
Panel (d)
174. Refer to Figure 4-27. Panel (a) shows which of the following?
a.
an increase in demand and an increase in quantity supplied
b.
an increase in demand and an increase in supply
c.
an increase in quantity demanded and an increase in quantity supplied
d.
an increase in quantity demanded and an increase in supply
175. Refer to Figure 4-27. Panel (b) shows which of the following?
a.
a decrease in demand and a decrease in quantity supplied
b.
a decrease in demand and a decrease in supply
c.
a decrease in quantity demanded and a decrease in quantity supplied
d.
a decrease in quantity demanded and a decrease in supply
176. Refer to Figure 4-27. Panel (c) shows which of the following?
a.
an increase in demand and an increase in quantity supplied
b.
an increase in demand and an increase in supply
c.
an increase in quantity demanded and an increase in quantity supplied
d.
an increase in quantity demanded and an increase in supply
177. Refer to Figure 4-27. Panel (d) shows which of the following?
a.
a decrease in demand and a decrease in quantity supplied
b.
a decrease in demand and a decrease in supply
c.
a decrease in quantity demanded and a decrease in quantity supplied
d.
a decrease in quantity demanded and a decrease in supply
178. Refer to Figure 4-27. Which of the four panels illustrates a decrease in quantity demanded?
a.
Panel (a)
b.
Panel (b)
c.
Panel (c)
d.
Panel (d)
179. Refer to Figure 4-27. Which of the four panels illustrates an increase in quantity demanded?
a.
Panel (a)
b.
Panel (b)
c.
Panel (c)
d.
Panel (d)
180. Refer to Figure 4-27. Which of the four panels illustrates a decrease in quantity supplied?
a.
Panel (a)
b.
Panel (b)
c.
Panel (c)
d.
Panel (d)
181. Refer to Figure 4-27. Which of the four panels illustrates an increase in quantity supplied?
a.
Panel (a)
b.
Panel (b)
c.
Panel (c)
d.
Panel (d)
182. Refer to Figure 4-27. Which of the four panels represents the market for pizza delivery in a college town as we go
from summer to the beginning of the fall semester?
a.
Panel (a)
b.
Panel (b)
c.
Panel (c)
d.
Panel (d)
183. Refer to Figure 4-27. Which of the four panels represents the market for winter coats as we progress from winter to
spring?
a.
Panel (a)
b.
Panel (b)
c.
Panel (c)
d.
Panel (d)
184. Refer to Figure 4-27. Which of the four panels represents the market for cars as a result of the adoption of new
technology on assembly lines?
a.
Panel (a)
b.
Panel (b)
c.
Panel (c)
d.
Panel (d)
