Answer key to sample problems for test 2
I think this key is correct. If you have any questions please email me or see if I'm online (AIM screen name: CinciDood):
1-A, 2-B, 3-B, 4-C, 5-B, 6-A,
7-A, 8-B, 9-D, 10-C,
11-D, 12-C, 13-C, 14-C, 15-B, 16-C,
17-A, 18-C, 19-B, 20-B, 21-A,
22-C, 23-C, 24-D, 25-A, 26-C, 27-D,
28-A, 29-C, 30-B, 31-A, 32-B, 33-E, 34-B,
35-A, 36-B, 37-C, 38-C, 39-E, 40-D,
41-B, 42-A, 43-B, 44-A, 45-A.
Although there were many questions on surpluses and shortages when prices were not at equilibrium, it is likely that fewer of those will be on the test. Expect a few more that deal with shifting of demand and supply curves and changes in equilibrium. (But remember, all of chapter 3 is fair game for the test!

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