(Test Bank)Economics Today The Macro View, 19th Edition by Roger LeRoy Miller chapter 3

《(Test Bank)Economics Today The Macro View, 19th Edition by Roger LeRoy Miller chapter 3》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。

1、EconomicsToday:TheMacroView,19e(Miller)Chapter3DemandandSupply3.1Demand1)Ineconomics,"demand"referstoA)whatpeopleneedinsteadofwantwithoutpayingforit.B)theminimumamountofagoodpeopleneedtosurvive.C)thesatisfactionagoodwillprovideaperson.D)howmuchofagoodpeoplewillbuyatanypriceduringagiventimep

2、eriod.Answer:DDiff:1Topic:3.1DemandLearningOutcome:Micro-4:ExplainhowsupplyanddemandfunctionincompetitivemarketsAACSB:Analyticalthinking2)Theconceptof"demand"ineconomicsreferstoA)thedifferentquantitiesofagoodorservicepeoplewillbuyatdifferentpossibleprices.B)thedifferenttypesofgoodsandservic

3、esthatpeopleofdifferentincomelevelswanttobuy.C)howchangesinthepricesofallgoodsaffectpeople'sbuyingbehavior.D)changesinpeople'sconsumptionbehaviorovertime.Answer:ADiff:1Topic:3.1DemandLearningOutcome:Micro-4:ExplainhowsupplyanddemandfunctionincompetitivemarketsAACSB:Analyticalthinking3)Thela

4、wofdemandstatesthatA)consumerswithmoreincomewillspendmoreongoodsandservices.B)ahigherpricewillleadtoincreasedsales.C)thepricecanneverbetoohighforsomeconsumers.D)quantitydemandedofagoodwillvaryinverselywiththepriceofthatgood.Answer:DDiff:1Topic:3.1DemandLearningOutcome:Micro-4:Explainhowsupp

5、lyanddemandfunctionincompetitivemarketsAACSB:Analyticalthinking129Copyright©2018PearsonEducation,Inc.4)ThelawofdemandstatesthatA)consumerswillexhausttheirincomesastheypurchasegoodsandservicesatgivenabsoluteprices.B)thequantitydemandedofagoodishigheratalowerrelativepricethanatahigherrelative

6、price.C)thereisadirectpositiverelationshipbetweenrelativepriceandquantitydemanded.D)ifthepriceofagoodincreasesbothrelativelyandabsolutely,therewillbenochangeinquantitydemanded.Answer:BDiff:1Topic:3.1DemandLearningOutcome:Micro-4:ExplainhowsupplyanddemandfunctionincompetitivemarketsAACSB:Ana

7、lyticalthinking5)Thelawofdemandincludesthestatement"otherthingsbeingequal."TheseotherthingsincludeallofthefollowingEXCEPTA)thepriceofthatgoodinthelawofdemand.B)consumers'income.C)consumers'tastesandpreferences.D)thenumberofpotentialbuyers.Answer:ADiff:2T