Equilibrium Practice – Comprehension Check D.1 Putting it all Together Circle the appropriate answer for each question. 1. Which of these graphs illustrates an increase in demand? A B C D 2. Which of these graphs illustrates an increase in supply? A B C D 3. Which of these determinants could cause this shift? A Increase in resource prices B Technological innovation C People prefer it more D People begin making more money 4. Which of these graphs illustrates a negative supply shock? A B C D 5. Which of these graphs illustrates a change in quantity supplied? A B C D 6. Which of the following graphs illustrates a change in quantity demanded A B C D 7. Which of these graphs illustrates the result of an increase in price of a substitute good? A B C D 8. Which of these determinants would cause in an increase in equilibrium price level? A Decrease in income levels B Decrease in resource prices C Better technology D Decrease in suppliers 9. Which of these graphs illustrates the effect of a decrease in the population on equilibrium price level? A B C D 10. Which of these illustrates an increase in supply? A B C D 11. Which of these graphs illustrates the effect of an increase resource prices? A B C D 12. Which of these graphs illustrates a change in product price level? A B C D 13. Which of these graphs illustrates the affect of an increase in price level of a complimentary good? A B C D 14. Which of these graphs illustrates an increase in income on inferior goods? A B C D 15. Which of the following graphs would illustrate an increase in the population on the demand for housing? A B C D
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