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Chapter 1 Quiz
Question 1
As per the law of demand: When rates increase,
ceteris paribus
Question 2
In response to news reports that taking aspirins
daily can reduce an individual's risk of a heart attack, there will most likely
be
Question 3
The number of pizzas this restaurant sells per week
increases from 500 to 700. This could be caused by
Question 4
Which of the following is consistent with the law of
supply?
Question 5
Suppose that video game cartridges are a normal
good. If the income of video game players increases, you predict that in the
market for videotapes
Question 6
Apples and oranges are substitute goods. A freeze in
Florida destroyed a good portion of the orange crop. Ceteris Paribus,
Question 7
An excess demand for a product serves as a signal
that
Question 8
At the same time that part of the lettuce crop was
destroyed consumer income also decreased. Ceteris Paribus, in the market for
lettuce would have caused
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