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AP Microeconomics Exam Module 2 Review questions with complete solutions
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AP Microeconomics Exam Module 2 Review questions with complete solutions
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AP Microeconomics Exam Module 2 Reviewquestions with complete solutions
Demand nn- nncorrect nnanswer-the nnrelationship nnbetween nnthe nnprice nnof nnan nnitem nnand nnthe nnquantity
nndemanded
Quantity nnDemanded nn- nncorrect nnanswer-the nnamount nnof nnan nnitem nnbuyers nnare nnwilling nnand nnable nnto
nnbuy, nnat nna nnparticular nnprice, nnat nna nnparticular nnmoment nnin nntime.
5 nnfactors nnthat nncan nncause nna nnshift nnin nndemand: nn- nncorrect nnanswer-(TRIBE):
Tastes
Related nngoods nnand nnservices
Income
Buyers nn(# nnof)
Exceptions nnof nnprice
If nnthe nnprice nnof nnlettuce nnincreases nnin nnTulsa, nnthe nnquantity nnof nnlettuce nndemanded nnwill nnmost nnlikely:
A) nnIncrease nnconsiderably.
nn
B) nnDecrease.
nn
C) nnNot nnchange.
D) nnIncrease, nnbut nnonly nnslightly.
E) nnDecrease nnto nnzero. nn- nncorrect nnanswer-B) nnDecrease
nn
If nnconsumer nntastes nnfor nnhome nnschool nneducation nnincreases nnover nntime nnthere nnwill nnbe:
,A) nnAn nnincrease nnin nnthe nnquantity nnof nnhome nnschool nncurricula nndemanded.
B) nnA nndecrease nnin nnthe nndemand nnfor nnhome nnschool nntutors.
C) nnA nndecrease nnin nnthe nnprice nnof nnhome nnschool nncurricula.
D) nnAn nnincrease nnin nnthe nndemand nnfor nnhome nnschool nncurricula.
E) nnNo nnchange nnin nnthe nndemand nnfor nnhome nnschool nntutors. nn- nncorrect nnanswer-D) nnAn nnincrease nnin
nn
the nndemand nnfor nnhome nnschool nncurricula.
nn
If nnconsumers nnin nnGeorgia nnexpect nnthe nnprice nnof nnnew nnhomes nnto nndecrease nnnext nnyear, nnit nncould nnlead
nnto nn________________________ nnthis nnyear.
A) nnA nndecrease nnin nndemand.
B) nnAn nnincrease nnin nndemand.
C) nnA nndecrease nnin nnquantity nndemanded.
D) nnAn nnincrease nnin nnquantity nndemanded.
E) nnHigher nnprices. nn- nncorrect nnanswer-A) nnA nndecrease nnin nndemand.
Which nnof nnthe nnfollowing nnproducts nnwould nnmost nnlikely nnhave nna nndemand nncurve nnwith nna nnvery nnsteep
nnslope nn- nnone nnwhere nnprice nnchanges nnbring nnabout nnrelatively nnsmall nnchanges nnin nnquantity
nndemanded?
A) nnCollege nntextbooks.
B) nnCruise nnship nnvacations.
, C) nnAirline nntickets.
D) nnPerfume.
E) nnDiamonds nn- nncorrect nnanswer-A) nnCollege nntextbooks.
The nndemand nncurve nnfor nnlawn nnfertilizer nnhas nna nn_______________ nnslope nnbecause nnof
nn________________________.
A) nnnegative; nnthe nnlaw nnof nnsupply.
B) nnpositive; nnincentives nnto nnearn nnprofit nnby nnsuppliers.
C) nnnegative; nnthe nnlaw nnof nndemand.
D) nnpositive; nnexpectations nnconcerning nnfuture nnprices.
E) nnconstant; nnthe nnimpact nnof nnchanging nnconsumer nntastes. nn- nncorrect nnanswer-C) nnnegative; nnthe nnlaw
nnof nndemand.
Which nnof nnthe nnfollowing nnis nnNOT nna nndeterminant nnof nndemand nnin nnthe nnmarket nnfor nncanoes nnin
nnMinnesota?
A) nnThe nnpopulation nnof nnMinnesota.
B) nnThe nnaverage nnincome nnof nnMinnesota nnresidents.
C) nnThe nnnumber nnof nnsellers nnof nncanoes nnin nnMinnesota.
D) nnThe nnprice nnof nncanoe nnpaddles nnin nnMinnesota.
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