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