Question : 41.The market demand for a particular good indicates: A. That consumers will : 1233054

41.The market demand for a particular good indicates:   

A. That consumers will purchase more of the good at higher prices, ceteris paribus.

B. That sellers will offer more of the good only at higher prices, ceteris paribus.

C. The total quantities buyers are willing and able to purchase at alternative prices, ceteris paribus.

D. How much of the good is actually purchased in a given period of time.

42.The market supply of a particular good:   

A. Is the sum of the quantities of the good that all producers are willing and able to sell.

B. Indicates that sellers will produce more of the good at lower prices, ceteris paribus.

C. Indicates that consumers will purchase more of the good at higher prices, ceteris paribus.

D. Measures the quantity of goods that producers actually sell.

43.Which of the following would not cause the market supply of cell phones to change?   

A. Telecommunications are deregulated, and anyone can produce and sell cell phones.

B. A cheaper technology for producing cell phones is developed.

C. A reduction in the demand for cell phones causes the price to fall.

D. Taxes levied on cell phone production are reduced.

44.Which of the following is a determinant of supply?   

A. Consumer tastes or preferences.

B. Consumer income.

C. Prices of the factors of production.

D. Number of buyers.

45.The quantity of a good that suppliers are willing and able to supply at a given price in a given time period depends on:   

A. Income.

B. Consumers’ expectation of future prices and costs.

C. The costs of producing the good.

D. The consumer demand for the good.

46.Which of the following provides the best example of the law of supply?   

A. Falling labor costs cause an increase in supply.

B. Improved technology shifts the supply curve to the right.

C. Some producers leave the industry, and the supply curve shifts to the left.

D. An increase in price entices suppliers to produce more.

47.Ceteris paribus, according to the law of supply, if the price of product Z increases from $6 to $8, then the:   

A. Quantity supplied will not be affected.

B. Supply curve for Z will shift to the left.

C. Quantity supplied of Z will increase.

D. Quantity supplied of Z will decrease.

48.Ceteris paribus, according to the law of supply, if the price of lawn mowing decreases from $50 per lawn to $45 per lawn, then the:   

A. Quantity supplied of lawn mowing will decrease.

B. Supply curve for lawn mowing will shift to the right.

C. Quantity supplied of lawn mowing will increase.

D. Quantity supplied of lawn mowing will stay the same.

49.A movement along the supply curve is the same as a:   

A. Shift in the supply curve.

B. Change in the quantity supplied.

C. Change in supply.

D. Change in the number of producers.

50.Ceteris paribus, which of the following will cause a rightward shift of the supply curve for plasma TVs?   

A. An increase in the cost of materials associated with the production of plasma TVs.

B. A decrease in the quantity of labor available to produce plasma TVs.

C. A subsidy paid to the producers of plasma TVs.

D. A decrease in the price of plasma TVs.