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AP Macroeconomics 1.5 Supply Questions

Interpret the law of supply by relating producer responses to market-price changes and representing that positive relationship on a supply curve.

Syllabus
Effective Fall 2022
Course
AP Macroeconomics

Exam points

  • identify the positive price-quantity supplied relationship and its upward-sloping curve

Covered syllabus points

MKT-2.C—a. Define (using graphs as appropriate) the law of supply. b. Explain (using graphs as appropriate) the relationship between the…MKT-2.D—Explain (using graphs as appropriate) the determinants of supply

Question 1

[Maximum number: 1]

Which of the following best illustrates the law of supply?

A

A farmer grows more com when the price of com rises.

B

A moving company lays off five workers because of a slowdown in sales.

C

A grocery store increases prices because of higher production costs.

D

A bookstore begins a new advertising campaign to attract more customers.

E

A government collects more in sales taxes because of an increase in consumption spending.

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