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1、1. Theuniquepointatwhichthesupplyanddemandcurvesintersectiscalled a. marketharmony. b. coincidence. c. equivalence. d. equilibrium.ANSWER: dDIFFICULTY: EasyLEARNING OBJECTIVES: ECON.MANK.279-Giveninformationonsupplyanddemandinamarket,determinetheequilibriumpriceandquantityofago
2、od.TOPICS: SupplyanddemandEquilibriumKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 001.04.4-MC-MANK082. Thedictionarydefinesequilibriumasasituationinwhichforces a. areinbalance. b. arethesame. c. clash. d. remainconstant.ANSWER: aDIFFICULTY: EasyLEARNING OBJECTIVES: ECON.MANK.279-Gi
3、veninformationonsupplyanddemandinamarket,determinetheequilibriumpriceandquantityofagood.TOPICS: SupplyanddemandEquilibriumKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 002.04.4-MC-MANK083. Attheequilibriumprice,thequantityofthegoodthatbuyersarewillingandabletobuy a. isgreaterthanthequa
4、ntitythatsellersarewillingandabletosell. b. exactlyequalsthequantitythatsellersarewillingandabletosell. c. islessthanthequantitythatsellersarewillingandabletosell. d. Eithera)orc)couldbecorrect.ANSWER: bDIFFICULTY: EasyLEARNING OBJECTIVES: ECON.MANK.279-Giveninformationonsupply
5、anddemandinamarket,determinetheequilibriumpriceandquantityofagood.TOPICS: SupplyanddemandEquilibriumKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 003.04.4-MC-MANK084. Anothertermforequilibriumpriceis a. dynamicprice. b. market-clearingprice. c. quantity-definingprice. d. balanceprice.C
7、4.4-MC-MANK085. Inagivenmarket,howaretheequilibriumpriceandthemarket-clearingpricerelated? a. Thereisnorelationship. b. Theyarethesameprice. c. Themarket-clearingpriceexceedstheequilibriumprice. d. Theequilibriumpriceexceedsthemarket-clearingprice.ANSWER: bDIFFICULTY: ModerateLE
