O buc.populiweb.com Homework Help - Q&A from On.. Course Dashboard | My Account BA 240-2: Week 2 Homework Populi - Bethesda University 5) Factors that can shift _for goods and services, include input prices, natural conditions, changes in technology, and government taxes, regulations, or subsidies. 1 Point O the supply curve the demand curve O the equilibrium curve ONone of these are correct 6) ceteris paribus means 1 Point O"other things being equal" "just another economy "another day another dollar" "In God we trust" 7) Which is NOT part of the four-step process? 1 Point O sketch a supply and demand diagram to think about what the market looked like before the event; O decide whether the event will affect supply or demand decide whether the effect on supply or demand is negative or positive, and draw the appropriate shifted supply or demand curve do not compare the new equilibrium price and quantity to the original ones. 8) When a price floor is set above the equilibrium price_ 1 Point O quantity demanded will exceed quantity supplied, and excess demand or shortages will result. O quantity supplied will exceed quantity demanded, and excess supply or surpluses will result. ONo major changes occur. MacBook Air esc LObuc.populiwe Course Dashboard | My Account BA 240-2: Week 2 Homework Populi - Bethesda University 1) The law of demand states that_ 1 Point Oa higher price typically leads to a lower quantity demanded. a lower price typically leads to a lower quantity demanded. a higher price typically leads to a higher quantity demanded. ONone of these are correct 2) If the price is above the equilibrium level, then 1 Point the quantity supplied will not exceed the quantity demanded. O the quantity supplied will exceed the quantity demanded. the quantity supplied will exceed the quantity supplied. OAll of these are correct. 3) The equilibrium price and equilibrium quantity occur where_ 1 Point the supply curves crosses the y axis. the supply and demand curves cross. O the supply curves crosses the x axis. the demand curves crosses the y axis. 4) Factors that can shift for goods and services include changes in tastes, population, income, prices of substitute or complement goods, and expectations about future conditions and prices. 1 Point O the equilibrium curve O the supply curve the demand curve None of these are correct Book Abuc.populiweb.com