Mankiw Chapter 4 Yoda Quiz

5 Questions | Total Attempts: 239

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Mankiw Chapter 4 Yoda Quiz

An Amateur Econ Quiz by YoDa.


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Questions and Answers
  • 1. 
    A market in which there are many buyers and many sellers so that each has a negligible impact on the market.
    • A. 

      Oligopoly

    • B. 

      Competitive Market

    • C. 

      Monopoly

    • D. 

      Monopolistic Competition

  • 2. 
    Saying that the quantity demanded is negatively related to the price.
    • A. 

      Quantity Demanded

    • B. 

      Law of Supply

    • C. 

      Law of Demand

    • D. 

      Quantity Supplied

    • E. 

      Demand Curve

  • 3. 
    If a increase in price of A Product leads to a decrease in quantity demanded for B Product, what is the relationship between these two products?
    • A. 

      Normal Good

    • B. 

      Inferior Good

    • C. 

      Substitutes

    • D. 

      Complements

  • 4. 
    What is NOT the factor that shifts the demand curve?
    • A. 

      Taste

    • B. 

      Income

    • C. 

      Price

    • D. 

      Expectations

    • E. 

      Prices of Related Goods

  • 5. 
    What are the characteristics of an upward-sloping curve?
    • A. 

      Price and quantity demanded are inversely related.

    • B. 

      When prices fall, quantity demanded will fall as well.

    • C. 

      Has a negative relationship.