Chapter 4 Review

Chapter 4 Review - cost 11 Equilibrium 12 Surplus 13...

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Chapter 4 Multiple Choice A. Completion bold = focus!! 1. Willing, able 2. Substitution, income 3. Normal 4. Substitute 5. Movement along the curve, shift the curve 6. Quantity supplied 7. Increase 8. Alternative goods: are goods that are produced using the same resources. 9. Supply curve 10. The costs of time and information required for exchange are call :Transaction
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Unformatted text preview: cost 11. Equilibrium 12. Surplus 13. Quantity supplied 14. shortage B. True/False 1. F T 2. T F 3. T 4. T 5. T 6. F 7. T 8. F 9. F 10. T 11. F T 12. F 13. F 14. T 15. T 16. F 17. F T 18. F 19. F T 20. F C. Mutiple Choice 1. C 2. C 3. D 4. D 5. E 6. E A 7. D 8. C A 9. A B 10. A C...
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