Homework2 - Homework 2 Econ 102-3: Principles of...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Homework 2 Econ 102-3: Principles of Macroeconomics due on February 1, 2008 Turn in your homework during class on February 1, 2008 and remember that no late homework will be accepted. Question 1 (5 points) The law of demand concludes that a rise in the price of a golf ball ... the quantity demanded and ... . A. increases; shifts the demand curve rightward B. decreases; shifts the demand curve leftward C. decreases; creates a movement upward along the demand curve D. increases; creates a movement downward along the demand curve Question 2 (5 points) Which of the following does not shift the supply curve? A. a rise in the wages paid to workers B. development of new technology C. people deciding that they want to buy more of a product D. a decrease in the number of suppliers 1 Question 3 (5 points) If there is a shortage of a good, the quantity demanded is ... than the quantity supplied and the price will ... A. less; raise B. less; fall C. greater; rise D. greater; fall Question 4 (5 points) GDP is equal to all of the following except A. aggregate expenditureA....
View Full Document

Page1 / 5

Homework2 - Homework 2 Econ 102-3: Principles of...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online