Hello,

Could you help me solve these questions please.

Thank you,

1)The market demand for good shifts to the left if...

a.The price of a substitute good goes up.

b.Income goes up and the good is normal.

c.Income goes up and the good is inferior.

d.The number of consumers in the market goes up.

2)To formulate a theory about how the worl works, an economist...

a.Observes reality and describes what is seen.

b.Makes assumptions about how various things work.

c.All of the other options are correct.

d.Validates the theory with data.

3)At a given price, if the quantity that producers would be willing to produce is greater than the quantity consumers would be willing to buy is determined by the...

a.Short side of the market.

b.Sunny side of the street

c.Simple sum of the squares.

d.Long arm of the law.

4)Price elasticity of demand is -2 and price elasticity of supply is 3. The producer pays_____percent of the tax.

a.60.

b.100.

c.40.

d.50.

5)If a firm subscribed for its production, it will increase its supply at any given price. To be effective, the subsidy must come from...

a.Other firms

b.Individuals.

c.All of the other options ae correct.

d.The government.

6)Which of the following is not a resource?

a.Money.

b.Land.

c.Capital.

d.Labour.

7)Lots of things affect consumer decisions. To isolate the effect of one variable at a time, economists use the idea of...

a.Binding price controls.

b.Comparative advantage.

c.High frequency data.

d.Ceteris paribus

8)The best way to organise economic activity is through...

a.Decentralised markets.

b.Income redistribution.

c.Centralised government

d.Altruistic giving.

9)The market supply curve shifts to the right if...

a.Subsidies fall.

b.The number of producers falls.

c.Input prices fall.

d.The number of consumers rises.

10)The price of good A went from $2 to $2.50 and the quantity of good B went from 50 units to 40 units if you use arc elasticity, cross-price elasticity is__________and goods A and B are______.

a.-1; complements.

b.-1; substitutes.

c.+1; complements.

d.+1; substitutes.