If the market for wheat is in equilibrium, the quantity of wheat demanded will equal the quantity of wheat supplied
T OR F
âA decrease in quantity demanded:
a.
âis illustrated by a movement downward and to the right along a demand curve.
b.
âincreases the slope of the demand curve.
c.
âshifts the demand curve to the left.
d.
âshifts the demand curve to the right.
e.
âis illustrated by a movement upward and to the left along a demand curve.
âWhich of the following would cause a rightward shift in the demand curve for oranges?
a.
âAn increase in the price of oranges
b.
âAn announcement by the US Food and Drug Administration (FDA) that oranges lower cholesterol
c.
âA new machine that allows orange growers to harvest oranges faster
d.
âA decrease in the price of apples
e.
âA freeze in Florida (a major orange producing state)
âA decrease in the number of sellers in the market for a good causes:
a. âthe supply curve of the good to shift to the left.
b. âa movement downward and to the left along a stationary supply curve of the good.
c. âa change in the slope of the supply curve of the good.
d. âa movement up and to the right along a stationary supply curve of the good.
e. âthe supply curve of the good to shift to the right.
If the market for wheat is in equilibrium, the quantity of wheat demanded will equal the quantity of wheat supplied
T OR F
âA decrease in quantity demanded:
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âWhich of the following would cause a rightward shift in the demand curve for oranges?
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âA decrease in the number of sellers in the market for a good causes:
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