31) The supply curve for watches

A) shows the supply of watches consumers are willing and able to buy at any given price.

B) is downward sloping.

C) shows the relationship between the quantity of watches firms are willing and able to supply and the quantity of watches consumers are willing and able to purchase.

D) shows the relationship between the price of watches and the quantity of watches supplied.

32) A decrease in the price of GPS systems will result in

A) a smaller quantity of GPS systems supplied.

B) a larger quantity of GPS systems supplied.

C) a decrease in the demand for GPS systems.

D) an increase in the supply of GPS systems.

33) An increase in the price of off-road vehicles will result in

A) a smaller quantity of off-road vehicles supplied.

B) a larger quantity of off-road vehicles supplied.

C) an increase in the demand for off-road vehicles.

D) a decrease in the supply of off-road vehicles.

34) Which of the following would cause an increase in the supply of peanut butter?

A) a decrease in the price of grape jelly (assuming that peanut butter and grape jelly are complements)

B) an increase in the price of peanut butter

C) an increase the price of a product that producers sell instead of peanut butter

D) an increase in the number of firms that produce peanut butter

35) In February, market analysts predict that the price of titanium will rise in March. What happens in the titanium market in February, holding everything else constant?

A) The supply curve shifts to the right.

B) The supply curve shifts to the left.

C) The quantity demanded and the quantity supplied of titanium increase.

D) The demand curve shifts to the left.

36) If the United States placed an embargo on Swedish products, what would happen in the U.S. market for Swedish furniture?

A) The supply curve would shift to the left.

B) The supply curve would shift to the right.

C) The demand curve would shift to the right.

D) The demand curve would shift to the left.

37) An increase in the price of pineapples will result in

A) a smaller quantity of pineapples supplied.

B) a larger quantity of pineapples supplied.

C) a decrease in the demand for pineapples.

D) an increase in the supply of pineapples.

38) A supply curve

A) is a table that shows the relationship between the price of a product and the quantity of the product supplied.

B) is a curve that shows the relationship between the price of a product and the quantity of the product supplied.

C) is the relationship between the supply of a good and the cost of producing the good.

D) is a curve that shows the relationship between the price of a product and the quantity of the product that producers and consumers are willing to exchange.

39) If in the market for apples the supply has decreased then

A) the supply curve for apples has shifted to the right.

B) there has been a movement upwards along the supply curve for apples.

C) the supply curve for apples has shifted to the left.

D) there has been a movement downwards along the supply curve for apples.

40) If in the market for bananas the supply curve has shifted to the right, then

A) the supply of bananas increased.

B) the quantity of bananas supplied has increased.

C) the supply of bananas has decreases.

D) the quantity of bananas supplied has decreased.

31) The supply curve for watches

A) shows the supply of watches consumers are willing and able to buy at any given price.

B) is downward sloping.

C) shows the relationship between the quantity of watches firms are willing and able to supply and the quantity of watches consumers are willing and able to purchase.

D) shows the relationship between the price of watches and the quantity of watches supplied.

32) A decrease in the price of GPS systems will result in

A) a smaller quantity of GPS systems supplied.

B) a larger quantity of GPS systems supplied.

C) a decrease in the demand for GPS systems.

D) an increase in the supply of GPS systems.

33) An increase in the price of off-road vehicles will result in

A) a smaller quantity of off-road vehicles supplied.

B) a larger quantity of off-road vehicles supplied.

C) an increase in the demand for off-road vehicles.

D) a decrease in the supply of off-road vehicles.

34) Which of the following would cause an increase in the supply of peanut butter?

A) a decrease in the price of grape jelly (assuming that peanut butter and grape jelly are complements)

B) an increase in the price of peanut butter

C) an increase the price of a product that producers sell instead of peanut butter

D) an increase in the number of firms that produce peanut butter

35) In February, market analysts predict that the price of titanium will rise in March. What happens in the titanium market in February, holding everything else constant?

A) The supply curve shifts to the right.

B) The supply curve shifts to the left.

C) The quantity demanded and the quantity supplied of titanium increase.

D) The demand curve shifts to the left.

36) If the United States placed an embargo on Swedish products, what would happen in the U.S. market for Swedish furniture?

A) The supply curve would shift to the left.

B) The supply curve would shift to the right.

C) The demand curve would shift to the right.

D) The demand curve would shift to the left.

37) An increase in the price of pineapples will result in

A) a smaller quantity of pineapples supplied.

B) a larger quantity of pineapples supplied.

C) a decrease in the demand for pineapples.

D) an increase in the supply of pineapples.

38) A supply curve

A) is a table that shows the relationship between the price of a product and the quantity of the product supplied.

B) is a curve that shows the relationship between the price of a product and the quantity of the product supplied.

C) is the relationship between the supply of a good and the cost of producing the good.

D) is a curve that shows the relationship between the price of a product and the quantity of the product that producers and consumers are willing to exchange.

39) If in the market for apples the supply has decreased then

A) the supply curve for apples has shifted to the right.

B) there has been a movement upwards along the supply curve for apples.

C) the supply curve for apples has shifted to the left.

D) there has been a movement downwards along the supply curve for apples.

40) If in the market for bananas the supply curve has shifted to the right, then

A) the supply of bananas increased.

B) the quantity of bananas supplied has increased.

C) the supply of bananas has decreases.

D) the quantity of bananas supplied has decreased.

31) The supply curve for watches

A) shows the supply of watches consumers are willing and able to buy at any given price.

B) is downward sloping.

C) shows the relationship between the quantity of watches firms are willing and able to supply and the quantity of watches consumers are willing and able to purchase.

D) shows the relationship between the price of watches and the quantity of watches supplied.

32) A decrease in the price of GPS systems will result in

A) a smaller quantity of GPS systems supplied.

B) a larger quantity of GPS systems supplied.

C) a decrease in the demand for GPS systems.

D) an increase in the supply of GPS systems.

33) An increase in the price of off-road vehicles will result in

A) a smaller quantity of off-road vehicles supplied.

B) a larger quantity of off-road vehicles supplied.

C) an increase in the demand for off-road vehicles.

D) a decrease in the supply of off-road vehicles.

34) Which of the following would cause an increase in the supply of peanut butter?

A) a decrease in the price of grape jelly (assuming that peanut butter and grape jelly are complements)

B) an increase in the price of peanut butter

C) an increase the price of a product that producers sell instead of peanut butter

D) an increase in the number of firms that produce peanut butter

35) In February, market analysts predict that the price of titanium will rise in March. What happens in the titanium market in February, holding everything else constant?

A) The supply curve shifts to the right.

B) The supply curve shifts to the left.

C) The quantity demanded and the quantity supplied of titanium increase.

D) The demand curve shifts to the left.

36) If the United States placed an embargo on Swedish products, what would happen in the U.S. market for Swedish furniture?

A) The supply curve would shift to the left.

B) The supply curve would shift to the right.

C) The demand curve would shift to the right.

D) The demand curve would shift to the left.

37) An increase in the price of pineapples will result in

A) a smaller quantity of pineapples supplied.

B) a larger quantity of pineapples supplied.

C) a decrease in the demand for pineapples.

D) an increase in the supply of pineapples.

38) A supply curve

A) is a table that shows the relationship between the price of a product and the quantity of the product supplied.

B) is a curve that shows the relationship between the price of a product and the quantity of the product supplied.

C) is the relationship between the supply of a good and the cost of producing the good.

D) is a curve that shows the relationship between the price of a product and the quantity of the product that producers and consumers are willing to exchange.

39) If in the market for apples the supply has decreased then

A) the supply curve for apples has shifted to the right.

B) there has been a movement upwards along the supply curve for apples.

C) the supply curve for apples has shifted to the left.

D) there has been a movement downwards along the supply curve for apples.

40) If in the market for bananas the supply curve has shifted to the right, then

A) the supply of bananas increased.

B) the quantity of bananas supplied has increased.

C) the supply of bananas has decreases.

D) the quantity of bananas supplied has decreased.

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