Question : 71.If supply unchanged, a decrease in the demand for soft : 1233057

71.If supply is unchanged, a decrease in the demand for soft drinks will cause equilibrium price to:   

A. Rise and equilibrium quantity to fall.

B. Fall and equilibrium quantity to fall.

C. Fall and equilibrium quantity to rise.

D. Rise and equilibrium quantity to rise.

72.If supply is constant, a decrease in the demand for potato chips will cause:   

A. A decrease in equilibrium price and a decrease in equilibrium quantity.

B. An increase in equilibrium price and an increase in equilibrium quantity.

C. A decrease in equilibrium price and an increase in equilibrium quantity.

D. An increase in equilibrium price and a decrease in equilibrium quantity.

73.If supply is unchanged, a decrease in the demand for tacos will cause the equilibrium price to:   

A. Rise and equilibrium quantity to fall.

B. Rise and equilibrium quantity to rise.

C. Fall and equilibrium quantity to rise.

D. Fall and equilibrium quantity to fall.

74.If supply is unchanged, a rightward shift in the demand curve for gourmet ice cream will result in:   

A. A decrease in equilibrium quantity and a higher equilibrium price.

B. An increase in equilibrium quantity and a higher equilibrium price.

C. A decrease in equilibrium quantity and a lower equilibrium price.

D. An increase in equilibrium quantity and a lower equilibrium price.

75.In the market for web design services, when more companies desire web pages, the equilibrium:   

A. Price of web design services decreases.

B. Price of web design services remains unchanged.

C. Quantity of web design services increases.

D. Quantity of web design services decreases.

76.In the market for web design services, if businesses expect consumers to make more on-line purchases, then the equilibrium:   

A. Price of web design services will decrease.

B. Price of web design services will increase.

C. Quantity of web design services will remain unchanged.

D. Quantity of web design services will decrease.

77.If a state decides to reduce the cost of college tuition, by providing more Pell grants to students ceteris paribus, then the:   

A. Quantity demanded of a college education in the state will decrease.

B. Demand for a college education in the state will decrease.

C. Quantity demanded of a college education in the state will increase.

D. Quantity supplied of a college education in the state will increase.

78.If a state adopts a free college tuition program, ceteris paribus, economists expect there to be a:   

A. A surplus of college education opportunities in the state.

B. A shortage of college education opportunities in the state.

C. A decrease in equilibrium price for a college education in the state.

D. A decrease in equilibrium quantity for a college education in the state.

79.A price ceiling is:   

A. A lower limit on the price of a good.

B. Above the equilibrium price.

C. An upper limit on the price of a good.

D. A limit on the price of goods sold abroad.

80.A price ceiling does all of the following except:   

A. Increases the quantity demanded relative to the equilibrium level.

B. Creates excess supply.

C. Creates a market shortage.

D. Decreases the quantity supplied relative to the equilibrium level.