Pick the supply move

Exercise and reference answers

Questions

1. Question

   Price and quantity supplied move

   Choices

   1. Together
   2. Inversely
   3. Randomly

   Correct choice

   Together

2. Question

   A rise in market price causes

   Choices

   1. Contraction
   2. Expansion
   3. A left shift

   Correct choice

   Expansion

3. Question

   A rise in input prices causes

   Choices

   1. More output
   2. Expansion
   3. Decrease in supply

   Correct choice

   Decrease in supply

4. Question

   A bodily rightward shift of the curve is

   Choices

   1. Increase in supply
   2. Expansion
   3. Contraction

   Correct choice

   Increase in supply

Instructions

Tap the correct option for each round.

Explanation