Jeopardy Exam II

Jeopardy Exam II - Jeopardy The Market Strikes Back...

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Unformatted text preview: Jeopardy The Market Strikes Back Tracking the Economy Long-Run Growth The Big Picture Price Levels Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q $100 Q $100 Q $100 Q $200 Q $200 Q $200 Q $200 Q $300 Q $300 Q $300 Q $300 Q $400 Q $400 Q $400 Q $400 Q $500 Q $500 Q $500 Q $500 Final Jeopardy $100 Question from The Market Strikes Back In order for a Price Ceiling to be effective, its value must be below this point in the market $100 Answer from The Market Strikes Back What is Equilibrium Price? $200 Question from The Market Strikes Back In order for a Price Floor to be effective, its value must be above this point in the market $200 Answer from The Market Strikes Back What is Equilibrium Price? $300 Question from The Market Strikes Back Often the result of an effective price ceiling, the size of this phenomenon is the difference between the quantity demanded and the quantity supplied $300 Answer from The Market Strikes Back What is a Shortage? $400 Question from The Market Strikes Back Often the result of an effective price floor, the size of this phenomenon is the difference between the quantity demanded and the quantity supplied $400 Answer from The Market Strikes Back What is a Surplus? $500 Question from The Market Strikes Back This odd looking curve often results from Quantity Controls or Quotas instituted in the market $500 Answer from The Market Strikes Back What is a kinked supply curve? $100 Question from Tracking the Economy These two markets result from the interactions between firms and households in an economy $100 Answer from Tracking the Economy What are the Factors Market and the Goods and Services Market? $200 Question from Tracking the Economy These four types of consumers make up the demanders in an economy $200 Answer from Tracking the Economy Who are Households, Firms, Government, and the Rest of the World (ROW)? $300 Question from...
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Jeopardy Exam II - Jeopardy The Market Strikes Back...

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