Exam 1 Review

QuizÂ by Braziel Hatch

Feel free to use or edit a copy

includes Teacher and Student dashboards

### Measure skillsfrom any curriculum

Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.

• edit the questions
• save a copy for later
• start a class game
• automatically assign follow-up activities based on studentsâ€™ scores
• assign as homework
• share a link with colleagues
• print as a bubble sheet

### Our brand new solo games combine with your quiz, on the same screen

Correct quiz answers unlock more play!

10 questions
• Q1

An increase to a binding price ceiling would result in

Quantity supplied increasing

Supply Increasing

Demand increasing

Quantity demanded increasing

30s
• Q2

Which of the following would shift the demand curve for gasoline to the right?

An increase in the consumer income, assuming gasoline is a normal good

A decrease in the price of the gasoline

A decrease in the expected future price of gasoline

An increase in the price of cars, a complement of gasoline

30s
• Q3

The price of a good rises from \$12 to \$14, and the quantity demanded falls from 200 to 160 units. Calculated with the midpoint method, the absolute value of the elasticity is

9/13

13/9

9

10

60s
• Q4

How much is the Consumer Surplus?

\$56.25

\$112.50

\$450

\$225

60s
• Q5

How much is the Total Surplus?

\$56.25

\$112.50

\$337.50

\$225

60s
• Q6

Before the tax was implemented, how much consumer surplus was there?

\$200

\$600

\$400

\$800

60s
• Q7

How much of the tax is paid by the consumer?

\$0

\$2

\$3

\$5

30s
• Q8

What is the government revenue from taxation in this market?

\$750

\$450

\$900

\$720

60s
• Q9

What is the Deadweight Loss due to taxation in this market?

\$125

\$100

\$25

\$900

30s
• Q10

What is the loss in Producer Surplus due to the taxation in this market?

\$780

\$400

\$525

\$350

60s

Teachers give this quiz to your class