• AP
  • AP Microeconomics

AP Microeconomics Practice Questions

Suppose that there are only two goods: x and y. Which of the following is NOT correct?
A change in which of the following will NOT cause a shift in the demand curve for hamburgers?
The ability for firms to enter and exit a market over time means that
When a good is taxed, the tax burden falls mainly on the consumer if
Elsa values her time at $50 per hour, and tutors David for two hours. David is willing to pay $175 for two hours of tutoring, but they negotiate a price of $125 for the entire two hours. Which of the following statements is true about the transaction above:
An externality
A demand curve slopes downward for an individual as the result of
The supply curve for lawn-mowing services is likely to slope upward because of
If supply and demand both increase, the result is
When the labor demand curve is downward-sloping, an increase in the minimum wage is
Suppose the supply and demand for cotton in the United States are represented by curves S and D respectively in the figure. Also assume that the world supply for cotton is so large that the United States would be a "price taker" in the world market (as represented by WS). If the United States were to open its cotton market to free trade with the world, then
The total utility from sardines is maximized when they are purchased until
If a 3 percent increase in price leads to a 5 percent increase in the quantity supplied,
Normal goods always have a/an
When the cross-price elasticity of demand is negative, the goods in question are necessarily
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