Economics Paper 9
1How many different equilibria can obtain when you allow for shifts in the demand and/or
the supply curves?
2What will happen to equilibrium price and quantity when the demand curve shifts to the left
and the supply curve shifts to the right
3What will happen to equilibrium price and quantity when both the demand and supply
curves shift to the left
4A price ceiling imposed by the government can cause a shortage (excess demand)
5What is the effect of imposing a fixed per unit tax on a good on its equilibrium price and
quantity?
6A price floor is
7The need for rationing a good arises when
8If the “regulated-market†price is below the equilibrium (or “free-market†price) price,
9If a government were to fix a minimum wage for workers that was higher than the marketclearing
equilibrium wage, economists would predict that
10When the decrease in the price of one good causes the demand for another good to decrease,
the goods are
Result
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