Chapter 3 - Demand and Supply - Sample Questions MULTIPLE ...

← Back to document page

Chapter 3 - Demand and Supply - Sample QuestionsAnswers are at the end fo this fileMULTIPLE choice . Choose the one alternative that best completes the statement or answers the ) A relative price isA) the ratio of one price to ) the difference between one price and ) the slope of the Supply ) the slope of the Demand )2) If the price of a candy bar is $1 and the price of a fast food meal is $5,A) the money price of a fast food meal is 1/5 of a candy ) the money price of a candy bar is 1/5 of a fast food ) the relative price of a fast food meal is 5 candy ) the relative price of a candy bar is 5 fast food )3) If the price of a hot dog is $2 and the price of a hamburger is $4,A) the money price of a hamburger is 2 hot ) the money price of a hot dog is 2 ) the relative price of a hot dog is 1/2 of a ) the relative price of a hamburger is 1/2 of a hot )4) The opportunity cost of good A in terms of good B is equal to theA) ratio of the price of good B to the price of good )

Chapter 3 - Demand and Supply - Sample Questions Answers are at the end fo this file MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.

  Question, Multiple, Demand, Choice, Multiple choice, Questions multiple