4. GDP is rising and price of crude oil in declining. P | Demand:... Supply: . Equilibrium Quantity :...... Equilibrium Price :

The market in questions is the Halloween costume market. Halloween season is approaching. What do you expect to happen to the supply of Halloween Costumes? A). Will the supply change (shift of the curve) of will the quantity supplied change (movement along the line)? Answer:______________________________________ B). If supply changes, will the curve shift to the right (increase in supply) or shift to the left (decrease in supply)? Please draw this on the graph above. C). If the supply changes, what is the factor or determinant affecting the change? If the curve did not shift, there is no determinant. Please see Supply/Demand Cheat Sheet...Hint: Natural Disasters, Price of inputs, technology, and expectations Answer:_____________________________________

Consider the market for gasoline. You expect prices of gasoline to decrease next month. What happens to the market for gasoline today, holding all else constant. a prices today do not change b prices today rise c prices today fall d there is not enough information to answer the question

If television sellers expect the prices of televisions to fall in the future, we are likely to see the price: and quantity of televisions to rise. and quantity of televisions to fall. of televisions to rise and quantity of televisions to fall. of televisions to fall and quantity of televisions to rise.

Suppose wages in the shovel industry increase. Everything else held constant, this will cause the and the equilibrium quantity of shovels transacted to equilibrium price of shovels to Select one: A decrease increase C. decrease; decrease D. increase increase

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a. Fuel efficiency regulations reduce the use of steel in automobile production and increase the use of lighter materials such as aluminum. Also, increased import restrictions are imposed that limit the amount of steel that can be imported into the U.S. Price Market for steel in the U.S. Quantity S b. The developments described have a negative D a negative effect on the equilibrium quantity. effect on the equilibrium price of steel and

If supply is unchanged, a decrease in the demand for coffee will cause the equilibrium price to:     Answers: A.  Fall and equilibrium quantity to fall.   B.  Rise and equilibrium quantity to rise.   C.  Rise and equilibrium quantity to fall.   D.  Fall and equilibrium quantity to rise.

11.An increase in demand occurs when   the demand curve shifts upward and to the right. there is a leftward shift in the demand curve. quantity demanded is greater than quantity supplied. quantity supplied is greater that quantity demanded.