test - Name_Last 4 SSN Intro to Macro 105 Fall 2006 Prof...

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Version 1 Page 1 Name: _________________________________________________Last 4 SSN:_____________ Intro to Macro 105 Fall 2006 Prof. Matias Fontenla Quiz 2 1. "If you only have love for your own race, then you only leave space to discriminate, and to discriminate only generates hate" is a quote from A) Abraham Lincoln B) Martin Luther King C) Black Eyed Peas D) Benjamin Franklin Figure: Demand and Supply of Wheat 2. (Figure: Demand and Supply of Wheat) If there were an increase in demand (shift) of 2,000 bushels at each price, the equilibrium price and quantity would be ________ and ________ units, respectively. A) $8; 8,000 B) $5; 5,000 C) $6; 7,000 D) $7; 7,000 3. (Figure: Demand and Supply of Wheat) What are the equilibrium price and quantity in this wheat market? A) $4 and 10,000 bushels B) $6 and 6,000 bushels C) $8 and 12,000 bushels D) $4 and 2,000 bushels 4. (Figure: Demand and Supply of Wheat) If a price of $10 temporarily exists in this market, a: A) surplus of 8,000 bushels will result. B)
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This note was uploaded on 04/02/2008 for the course ECON 105 taught by Professor Binder,m. during the Fall '08 term at New Mexico.

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test - Name_Last 4 SSN Intro to Macro 105 Fall 2006 Prof...

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