Exam Questions On Economics Worksheet With Answer Key
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10Sample Exam Questions/Chapter 3
1. If goods A and Z are complements, an increase in the price of good Z will:
A) increase the demand for good A.
B) decrease the demand for good A.
C) decrease the demand for good Z.
D) decrease the demand for both good A and good Z.
2. If people demand more of product A when the price of B falls, then A and B are:
A) not related.
B) substitutes.
C) complements.
D) inferior goods.
3. You notice that the price of DVD players falls and the quantity of DVD players sold
increases. Which of the following may cause this change?
A) Demand for DVD players shifts to the right.
B) Demand for DVD players shifts to the left.
C) Supply of DVD players shifts to the right.
D) Supply of DVD players shifts to the left.
4. An increase in the price and an ambiguous change in quantity is most likely caused by:
A) a shift to the left in demand and no shift in supply.
B) a shift to the left in supply and no shift in demand.
C) a shift to the right in supply and a shift to the left in demand.
D) a shift to the left in supply and a shift to the right in demand.
5. If the supply and demand curves intersect at a price of $14, then any price below that
would result in:
A) a shortage.
B) a surplus.
C) equilibrium.
D) an increase in demand.
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