This document appears to be instructions for an economics entrance exam in India. It provides details about the exam such as the date, time limit, number of questions, and scoring information. It instructs students to write their hall ticket number on the paper and answer sheet. It indicates there are two sections, with Section A having 25 questions and Section B having 75 questions. Use of a non-programmable calculator is allowed.
Hemant
Eco academy is managed by Harmeet singh (2013 batch) Delhi School of Economics alumni.
Tutors
Apart from the core team, ECO Academy also has a team of tutors, who are graduates from reputed Economics Institutes such as DSE, ISI and JNU.
Assignment Buddy
Apart from ECO Academy, Assignment Buddy is an online education product of Knowledge Spark Consultancy Pvt Ltd, which deals in providing assignment help in Economics, Statistics and Mathematics to students of various universities. As a start-up, Assignment Buddy has successfully done several research projects for student community and has tied-up with several Education Corporations nationally and internationally.
The document discusses the Ricardian model of trade, which is based on technological differences between countries that lead to different marginal rates of transformation (MRTs). It uses the example of two countries, H and F, that produce two goods, wine and cheese. Country H has a comparative advantage in cheese while Country F has a comparative advantage in wine due to their different MRTs. The model shows that both countries can benefit from specializing in their comparative good and trading, resulting in higher overall output and consumption compared to a scenario without trade.
1. The document provides a math exam for MATH 540 with 38 multiple choice questions covering topics such as linear programming, probability, decision analysis, and forecasting.
2. Sample questions include solving transportation and assignment problems, calculating break-even points, determining probabilities using the normal distribution, and analyzing production possibilities.
3. The exam is available for purchase online from a test preparation website to help students prepare for and study for their MATH 540 final exam.
1) The document summarizes key concepts from Chapter 3 of a macroeconomics textbook, including how total national income is determined by aggregate supply and demand.
2) It explains how factor prices like wages and rental rates are determined by supply and demand in factor markets and how this determines the distribution of total income.
3) It outlines the components of aggregate demand - consumption, investment, and government spending - and how their interaction with aggregate supply determines equilibrium in the goods market and the loanable funds market.
Test Bank for Microeconomics 20th Edition by McConnellriven03
Test Bank for Microeconomics 20th Edition by McConnell
Download: https://goo.gl/MmRaBa
microeconomics principles problems and policies 21st edition
mcconnell brue flynn economics 20th edition pdf
microeconomics 20th edition by mcconnell brue and flynn mcgraw hill irwin
macroeconomics principles problems and policies 20th edition pdf
CU M Com-MEBE-MOD-I-National Income Accounting-Lecture-2Dr. Subir Maitra
The document discusses three methods for measuring national income:
1) Product method - Summing the value added of all sectors in the economy through production.
2) Income method - Summing incomes from factors of production like wages, profits, interest.
3) Expenditure method - Summing expenditures in the economy through consumption, investment, government spending, and trade. It shows how these methods are equivalent.
This document contains multiple choice, true/false, and matching questions from a managerial economics exam for distance learning students. The multiple choice questions cover topics like microeconomics, demand, managerial economics as a field of study, and macroeconomics. The true/false questions test understanding of concepts like uncertainty, risk, and the relationship between managerial economics and other disciplines. The matching questions associate terms like resources, commodities, and theories with their definitions.
This document appears to be instructions for an economics entrance exam in India. It provides details about the exam such as the date, time limit, number of questions, and scoring information. It instructs students to write their hall ticket number on the paper and answer sheet. It indicates there are two sections, with Section A having 25 questions and Section B having 75 questions. Use of a non-programmable calculator is allowed.
Hemant
Eco academy is managed by Harmeet singh (2013 batch) Delhi School of Economics alumni.
Tutors
Apart from the core team, ECO Academy also has a team of tutors, who are graduates from reputed Economics Institutes such as DSE, ISI and JNU.
Assignment Buddy
Apart from ECO Academy, Assignment Buddy is an online education product of Knowledge Spark Consultancy Pvt Ltd, which deals in providing assignment help in Economics, Statistics and Mathematics to students of various universities. As a start-up, Assignment Buddy has successfully done several research projects for student community and has tied-up with several Education Corporations nationally and internationally.
The document discusses the Ricardian model of trade, which is based on technological differences between countries that lead to different marginal rates of transformation (MRTs). It uses the example of two countries, H and F, that produce two goods, wine and cheese. Country H has a comparative advantage in cheese while Country F has a comparative advantage in wine due to their different MRTs. The model shows that both countries can benefit from specializing in their comparative good and trading, resulting in higher overall output and consumption compared to a scenario without trade.
1. The document provides a math exam for MATH 540 with 38 multiple choice questions covering topics such as linear programming, probability, decision analysis, and forecasting.
2. Sample questions include solving transportation and assignment problems, calculating break-even points, determining probabilities using the normal distribution, and analyzing production possibilities.
3. The exam is available for purchase online from a test preparation website to help students prepare for and study for their MATH 540 final exam.
1) The document summarizes key concepts from Chapter 3 of a macroeconomics textbook, including how total national income is determined by aggregate supply and demand.
2) It explains how factor prices like wages and rental rates are determined by supply and demand in factor markets and how this determines the distribution of total income.
3) It outlines the components of aggregate demand - consumption, investment, and government spending - and how their interaction with aggregate supply determines equilibrium in the goods market and the loanable funds market.
Test Bank for Microeconomics 20th Edition by McConnellriven03
Test Bank for Microeconomics 20th Edition by McConnell
Download: https://goo.gl/MmRaBa
microeconomics principles problems and policies 21st edition
mcconnell brue flynn economics 20th edition pdf
microeconomics 20th edition by mcconnell brue and flynn mcgraw hill irwin
macroeconomics principles problems and policies 20th edition pdf
CU M Com-MEBE-MOD-I-National Income Accounting-Lecture-2Dr. Subir Maitra
The document discusses three methods for measuring national income:
1) Product method - Summing the value added of all sectors in the economy through production.
2) Income method - Summing incomes from factors of production like wages, profits, interest.
3) Expenditure method - Summing expenditures in the economy through consumption, investment, government spending, and trade. It shows how these methods are equivalent.
This document contains multiple choice, true/false, and matching questions from a managerial economics exam for distance learning students. The multiple choice questions cover topics like microeconomics, demand, managerial economics as a field of study, and macroeconomics. The true/false questions test understanding of concepts like uncertainty, risk, and the relationship between managerial economics and other disciplines. The matching questions associate terms like resources, commodities, and theories with their definitions.
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 10.docxamrit47
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 101864 Par L par score
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 101864 Par L par
Name:___________________________________ Banner:__________________________________
1) Suppose you decide to attend summer school and that this is considered a rational choice. When making this
choice,
A) you have made a positive statement.
B) you have used the ceteris paribus assumption.
C) you must have considered the social interest.
D) you must ignore the problem of scarcity.
E) you considered the marginal cost and marginal benefit of your choice.
2) The expenditure approach to measuring GDP is done by using data on only
A) consumption expenditure and investment.
B) wages, rent, interest, and profit.
C) consumption expenditure, investment, government expenditure on goods and services, and net exports
of goods and services.
D) consumption expenditure.
E) consumption expenditure, investment, and government expenditures.
3) The largest expenditure category in the United States is
A) net exports of goods and services.
B) investment.
C) wages.
D) consumption expenditure.
E) government expenditure on goods and services.
4) Economic growth is a sustained expansion of production possibilities, as measured by the increase in
________ over time.
A) population
B) the price level
C) inflation
D) employment
E) real GDP
5) The "value of money"
A) is the quantity of goods and services that a unit of money can buy.
B) increases during inflationary periods.
C) is directly related to the price level.
D) increases during economic expansions.
E) is determined by Fed regulations.
6) If the quantity of money supplied ________ the quantity demanded, in the long run the value of money
________.
A) exceeds; falls as people spend their surplus money
B) is less than; does not change unless the Fed increases the money supply
C) equals; equals zero
D) is less than; falls as people spend their surplus money
E) exceeds; rises as people buy bonds
7) Inflation is a tax because as the government ________ the quantity of money, the price level ________, and
the purchasing power of households' money ________.
A) decreases; rises; decreases
B) decreases; falls; decreases
C) increases; rises; decreases
D) does not change; rises; increases
E) increases; rises; increases
Figure 3-1
8) Refer to Figure 3-1. If the product represented is an inferior good, an increase in income would be
represented by a movement from
A) B to A. B) A to B. C) D2 to D1. D) D1 to D2.
9) Refer to Figure 3-1. A decrease in the price of the product would be represented by a movement from
A) D2 to D1. B) B to A. C) A to B. D) D1 to D2.
10) Suppose that when the price of raspberries increases, Lonnie increases his ...
The document provides instructions for a microeconomics exam consisting of three parts: Part A with 20 multiple choice questions, Part B with 4 essay questions, and Part C with 4 essay questions. Students must answer all questions in Parts A and B, and two questions from Part C. The exam covers topics including the differences between microeconomics and macroeconomics, production possibility curves, demand and supply, costs of production, and market structures. It provides details on the time allotted, materials allowed, and includes a reminder not to turn the paper over until instructed to do so.
This document appears to be a math exam consisting of two sections - Section I does not allow calculators, while Section II does. Section I contains 30 multiple choice questions to be completed in 30 minutes. Section II contains 13 short constructed response questions and allows 60 minutes for completion. The exam instructions state that only one answer should be marked for each multiple choice question and final results only should be written on the answer sheet for constructed response questions. Calculators are allowed in Section II and students should be aware of radian and median modes when using a calculator. A formula sheet is also provided as a reference.
Each brief must include your name, course number, and start ti.docxjacksnathalie
Each brief must include your name, course number, and start time of class. Any deviation from the proper format will result in no points.
Facts: Pinpoint the determinative facts of a case, i.e., those that make a difference in the outcome. Your goal here is to be able to tell the story of the case without missing any pertinent information but also not including too many extraneous facts either. Make sure you have clearly marked the parties’ names and positions in the case (Plaintiff/Defendant or Appellee/Appellant).
Issue: Formulate the main issue or issues in the case in the form of questions, preferably with a yes or no answer, which will help you more clearly state the holding in the next section of the case brief.
Holding: The holding should directly respond to the question in the Issue.
Analysis: This is the most important part of your brief as it describes why the court ruled the way it did. This part of your brief traces the court’s reasoning step by step, so be sure that you record it without gaps in logic as well.
FAILURE TO FOLLOW THE ABOVE RULES WILL RESULT IN NO CREDIT
ECO 301 C Problem Set 3
Deadline: Friday, April 24
1. An economy has a Cobb-Douglas production function. Capital income is
1/4 of real GDP. The depreciation rate is 8% and the saving rate is 5%.
(a) Assume there is neither population growth nor technological progress.
(i) Find the steady-state capital per worker, output per worker, and
consumption per worker.
(ii) Would output Y grow at the state state. If yes, at what rate? What
about capital K?
(b) Assume that the population grows at a rate 0.7% and there is no tech-
nological progress.
(i) Find the steady-state capital per worker, output per worker, and
consumption per worker.
(ii) Would total output Y grow at the state state. If yes, at what rate?
What about capital K?
(c) Assume that rate of population growth is 0.7% and the rate of labor-
augmenting technological progress is 2%.
(i) Find the steady-state capitalper e¤ective worker, outputper e¤ective
worker, and consumption per e¤ective worker.
(ii) Would output per worker Y=L grow at the state state. If yes, at
what rate? What about capital per worker K=L?
(iii) Would output Y grow at the state state. If yes, at what rate? What
about capital K?
(iv) Would real rental rate r grow at the steady state? If yes, at what
rate? What about the real wage w?
(v) Assume the economy is at the steady state. Use growth accounting
to calculate what portion of output growth is due to:
(v-i) an increase in capital
(v-ii) an increase in labor
(v-iii) an increase in total factor productivity
(vi) Assume the economy is at the steady state. You are a policy maker
and your goal is to maximize steady-state consumption per e¤ective worker.
By how much should you change the saving rate in the economy (use a "+"
for an increase and a "�" for a decrease)? Give an example of a policy that
could achieve such a change. Now, assume that your policy is impl ...
ECON 1102, Test 2 (060216) 1
ECON 1102, Section 711, SS1 2016
Do any 40 of the 50 questions: two and one-half points each
Answer questions 1 through 4 based on the graph below.
1. The initial demand curve is D1. There are no rent ceilings or floors. The initial equilibrium monthly rent is
_____. (Put your answer on the answer sheet)
2. The demand curve shifts leftward from D1 to D0 so that D0 is the relevant demand curve. There are no
rent controls. In the short run, the decrease in demand results in
A) lower rents and a decrease in the equilibrium quantity.
B) higher rents and a decrease in the equilibrium quantity.
C) lower rents and an increase in the equilibrium quantity.
D) higher rents and an increase in the equilibrium quantity.
3. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $300 per month. In the short run there will be
A) a shortage and a decrease in search costs. B) a shortage and an increase in search costs.
C) a surplus and an increase in search costs. D) a surplus and a decrease in search costs.
4. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $500 per month. In the short run there will be
A) a surplus of apartments. B) a shortage of 200,000 apartments.
C) a shortage of 300,000 apartments. D) neither a shortage nor a surplus of apartments.
5 A price floor
A) always results in a surplus.
B) always results in a shortage.
C) results in a surplus if the floor price is greater than the equilibrium price.
D) results in a shortage if the floor price is greater than the equilibrium price.
ECON 1102, Test 2 (060216) 2
Answer questions 6 through 8 based on the table below.
Wage rate (dollars
per hour)
Labor supplied
(millions of workers)
Labor demanded
(millions of workers)
12 9 3
11 8 4
10 7 5
9 6 6
8 5 7
6. What is the equilibrium wage rate in an unregulated market? ____ (Put your answer on the answer sheet)
7. If the minimum wage is set at $12 per hour, the number of unemployed workers will be ____
8. If the market is in equilibrium today, and tomorrow a minimum wage is set at $11 per hour, the number of workers
who will lose their jobs is _____
9. In general, how a sales tax is divided between buyers and sellers is determined by
A) the elasticities of supply and demand. C) who the law says must pay the tax.
B) the government’s choice of whom to tax. D) the revenue needs of government.
10. A tariff
A) is a tax imposed on imported goods.
B) is a tax imposed on exported goods.
C) encourages worldwide specialization according to the principle of comparative advantage.
D) has no effect on prices paid by domestic consumers even though it increases the revenue collected by
domestic producers.
11. ...
JNU MA Economics Entrance Test Paper (2013)CrackDSE
This document provides instructions for candidates taking an entrance examination for an M.A. in Economics. It outlines details such as the time allowed, maximum marks, instructions for filling out the answer sheet correctly, and guidelines for marking answers. Candidates are informed that the exam contains 100 compulsory questions to be answered in the provided answer sheet by darkening the correct choice with a ballpoint pen. Each correct answer carries 1 mark, while 1/4 of a mark will be deducted for each wrong answer. Candidates are instructed to write their details on the question paper and answer sheet, darken the appropriate question paper series code, and return both items to the invigilator after completing the exam within the allotted 3 hours
1. (Points 5) The GDP is the value of all final goods and.docxdorishigh
1.
(Points: 5)
The GDP is the value of all final goods and services produced
a. within the nations boundaries.
b. by domestically owned companies.
c. by citizens of the country.
d. by domestically controlled companies.
Save Answer
2.
(Points: 5)
If our population doubles, our GDP quadruples, and our GDP deflator doubles, our per capita real GDP will
a. quadruple.
b. double.
c. stay exactly the same.
d. decline by 25 percent.
e. decline by 50 percent.
Save Answer
3.
(Points: 5)
For purposes of calculating GDP using the expenditure approach, which of the following payments is NOT included in the government spending component?
a. Social Security pensions
b. The wages paid by a local government to its road crew
c. The wages paid by a state government to the workers in its welfare department
d. The federal government's purchase of a submarine from a shipbuilder
e. None of the choices are correct
Save Answer
4.
(Points: 5)
Which of the following is an intermediate product?
a. A road
b. Steel
c. Bread
d. A TV set
e. An automobile
Save Answer
5.
(Points: 5)
National income is the sum of all of the following except
a. wages.
b. savings.
c. interest.
d. rent.
e. profits.
Save Answer
6.
(Points: 5)
Which of the following would increase GDP?
a. More imports
b. Additional leisure time
c. Government removing more litter from highway right of ways
d. People engaging in more "do-it-yourself" projects
Save Answer
7.
(Points: 5)
Which of the following would NOT be included in this year's GDP?
a. The purchase of 100 shares of Microsoft stock
b. The replacement of a muffler on a 1978 Chevy
c. The commission charged by a real estate agent
d. The services of a hair stylist
e. The tuition fee for a course in economics
Save Answer
8.
(Points: 5)
The largest item amount among those listed here is
a. national income.
b. net interest.
c. net domestic product.
d. corporate profits.
Save Answer
9.
(Points: 5)
If GDP increases faster than the GDP deflator,
a. real GDP will rise.
b. real GDP will fall.
c. real GDP will stay the same.
d. There is not enough information to determine what happens to real GDP.
Save Answer
10.
(Points: 5)
Which one of the following is taken into account by GDP?
a. Household production
b. Illegal production
c. Leisure time
d. Custom lawn care services
Save Answer
11.
(Points: 5)
The difference between GDP and NDP is
a. Who has control of the company.
b. Who receives the profit from the sale.
c. Where the money is spent.
d. Depreciation.
Save Answer
12.
(Points: 5)
In the equation C + I + G + Xn, the I is defined as
a. total new investments less a wear out allowance.
b. total investments in new plant and equipment, business inventory changes and new residential housing.
c. domestic consumer income.
d. total investments in new plant and equipment ...
This document is a practice exam for an economics course consisting of multiple choice questions, short answer questions, and essay questions. It tests concepts related to GDP, inflation, unemployment, monetary and fiscal policy. The multiple choice section contains 20 questions testing definitions and applications of core economic concepts. The short answer questions require explaining terms like consumption functions and illustrating equilibrium graphically. The essay questions define nominal and real GDP, define deflation and the Fed's inflation target, and explain how monetary policy impacts interest rates and aggregate expenditure.
Page 1 of 17 ECON 201 Introduction to Macroeconomics .docxalfred4lewis58146
Page 1 of 17
ECON 201: Introduction to Macroeconomics
Final Exam
December 5, 2011
NAME: _________________________________
Circle your TA’s name: Agustin Brian Meysam
Circle your section time: 9 a.m. 3 p.m.
INSTRUCTIONS:
1. The exam lasts 2 hours.
2. The exam is worth 120 points in total: 45 points for the multiple choice questions (Part A), and
75 points for the six analytical problems (Part B).
3. Write your answers for part A (the multiple choice section) in the blanks below. You won’t
get credit for circled answers in the multiple choice section. There is no penalty to guessing, so
be sure to answer all of them.
4. Place all of your answers for part B in the space provided.
5. You must show your work for part B questions. There is no need to explain your answers for the
multiple choice questions.
6. Calculators are permitted. Books, notes, reference materials, etc. are prohibited.
7. Good luck!
PART A: Multiple Choice Problems. Answer multiple choice questions in the space provided
below. PLEASE USE CAPITAL LETTERS.
1 11 21 31 41
2 12 22 32 42
3 13 23 33 43
4 14 24 34 44
5 15 25 35 45
6 16 26 36
7 17 27 37
8 18 28 38
9 19 29 39
10 20 30 40
MC Q1 Q2 Q3 Q4 Q5 Q6 Total
Page 2 of 17
Part A. Multiple Choice Questions (45 points)
1. Money is
A) backed by gold in Fort Knox.
B) the same as income.
C) the value of all coins and currency in circulation at any time.
D) anything that is generally accepted as a medium of exchange.
2. The development of money as a medium of exchange has facilitated the expansion of trade because
A) holding money increases people's income.
B) no other mediums of exchange are available.
C) money eliminates the "double coincidence of wants" problem.
D) holding money increases people's wealth.
3. The price of bonds and the interest rate are
A) not related.
B) positively related.
C) negatively related.
D) sometimes positively related and other times negatively related, depending on the bond payments.
4. As the interest rate falls, people hold ________ money instead of bonds because the opportunity cost of
holding money has ________.
A) more; fallen
B) more; risen
C) less; fallen
D) less; risen
5. The lecture and readings explain the recent rise in food prices by
A) Subsidies to ethanol
B) Economic growth in China
C) Economic growth in the US
D) Quotas on corn imports
E) A) and B)
F) A) and D)
6. An example of a contractionary monetary policy is
A) an increase in the required reserve ratio.
B) a reduction in the taxes banks pay on their profits.
C) a decrease in the discount rate.
D) the Fed buying government securities in the open market.
7. Which of the following sequence of events follows an expansionary monetary policy?
A) r↓ ⇒ I↓ ⇒ AE↓ ⇒ Y↓.
B) r↑ ⇒ I↑ ⇒ AE↓ ⇒ Y↑.
C) r↑ ⇒ I↓ ⇒ AE↓ ⇒ Y↓.
D) r↓ ⇒ I↑ ⇒ AE↑ ⇒ Y↑.
Page 3 of 17
.
Common Final Exam ECON 201 OL2 Spring 2014 I. MULTIP.docxmonicafrancis71118
Common Final Exam ECON 201 OL2 Spring 2014
I. MULTIPLE CHOICE (40 questions 2 points each). Choose the one alternative that best completes
the statement or answers the question.
1) Business cycles are 1) _______
A) used to describe fluctuations in GDP.
B) a description of the time required to bring a new product to market.
C) the transfer of executives between firms.
D) movements in stock prices.
2) If real GDP was 100 in 2011 and 104.4 in 2012, the growth rate of real GDP between 2011 and 2012 was
2) _______
A) 2.2 percent.B) 4.4 percent. C) 100 percent. D) 102.2 percent.
3) When considering imports and exports, economists include the ________ as a component of the GDP.
3) _______
A) net exports B) total imports C) gross exports D) total exports
4) Which prices are used to measure goods and services in calculating the nominal GDP? 4) _______
A) projected prices B) average prices
C) current prices D) past years prices
5) Which of the following is NOT an example of private investment expenditure? 5) _______
A) using credit cards to purchase durable and nondurable goods
B) new houses built during the year
C) increases in inventories on goods produced during the year
D) new plants and equipment added during the year
6) Which of the following is NOT a component of gross domestic product? 6) _______
A) net exports
B) purchases by consumers of finished goods
C) purchases by consumers of used goods
D) government purchases
7) If Cassie's Coffee House purchases 33 cents worth of ingredients and spends 36 cents on wages per cup of
coffee to produce an 89 cent cup of coffee, then Cassie's Coffee House's contribution to GDP is ________ per
cup of coffee. 7) _______
A) 20 cents B) 33 cents C) 36 cents D) 56 cents
8) Economists define the labor force to include 8) _______
A) people who are working.
B) only people who are working full time.
C) people who are not working but are actively looking for a job, and people who are working.
D) all individuals of working age, regardless of whether they are working or looking for a job.
9) If Sam does not have a job and is not looking for work, he is considered 9) _______
jose.king
Highlight
jose.king
Highlight
jose.king
Highlight
jose.king
Highlight
A) not in the labor force. B) unemployed.
C) unemployed and in the labor force. D) unemployed and not in the labor force.
10) Suppose that the CPI in Egypt was 111 in 2011 and 122 in 2012. The inflation rate between those two years
was approximately 10) ______
A) 4.8 percent.B) 5.5 percent. C) 9.9 percent. D) 11 percent.
11) In June 2012, the U.S. labor force consisted of 142,415,000 employed and 12,749,000 unemployed. The
U.S. unemployment rate for June 2012 was about 11) ______
A) 7.4 percent.B) 8.2 percent. C) 9.0 percent. D) 11.2 percent.
12) Juanita quit her job to move to Santa Fe to be closer to her family. She is actively looking for a new job in
Santa Fe. Juanita is con.
This document contains an assignment on analytical tools in microeconomics, including supply-demand analysis and optimization. The assignment contains multiple choice questions and word problems related to supply and demand diagrams, shifts in supply and demand curves, market equilibrium, price ceilings, and total spending. It also addresses optimization through graphs of linear functions, marginal analysis, and finding maximum total revenue. The assignment requires students to apply concepts of supply, demand, equilibrium, and optimization to analyze various economic scenarios.
1. The document provides instructions for candidates taking an examination with two papers consisting of 50 questions each. It details rules regarding the use of the answer sheet and question paper booklet, how to mark answers, and notes on copyright and passing scores.
2. Candidates have 1 hour and 30 minutes to complete the 100 total questions. They must fill in identification information correctly on the answer sheet and mark their responses clearly. No extra pages or marks outside the answer sheet will be considered.
3. The exam covers two subjects, with Paper 1 being Business Economics and Paper 2 covering another unnamed topic. Candidates must score at least 40% on each paper and 50% overall to pass the Foundation Programme Examination.
Some of the questions have a image involved. I have attached those .docxboadverna
Some of the questions have a image involved. I have attached those images with the quesiton number as the file name.
1. Which statement is true?
a. Today more workers in the U.S. are members of labor unions than any time in our history
b. Today labor unions are weaker than any time in the last 100 years
c. No major labor union has called a strike since the 1940’s
d. Labor unions are relatively strong in the public (government) sector.
2. Exclusive union strategy involves
a. Increasing the demand for the final product, thereby increasing the demand for labor
b. Restricting the supply of union labor
c. Setting job standards and entry qualifications for members
d. Organizing all workers and bargaining for a wage
e. Negotiating only after a strike has been called
3. An example of an exclusive union would be
a. The Internal Brotherhood of the Teamsters
b. The Communications Workers of America
c. The American Medical Association
4. In which one of these years was labor union membership the highest?
a. 1940
b. 1960
c. 1980
d. 1990
5. Which of the following laws stated that attempts to monopolize conspiracies in restraint of trade, and conspiracies to monopolize were illegal?
a. The Federal Trade Commission Act
b. The Clayton Act
c. The Sherman Antitrust Act
d. All of the Choices
e. None of the Choices
6. Until the passage of the Airline Deregulation Act of 1978, the Civil Aeronautics Board controlled all of the following Except?
a. Fares
b. Assigned routes
c. Profits
d. Entry into the industry
7. The Clayton Act prohibited
A. interlocking directories
B. all forms of monopoly
C. foreign control of US corporations
D. False and deceptive advertising
8. Which statement is true?
a. Microsoft is subject to American antitrust laws but not those of Europe, Asia, or elsewhere
b. Microsoft has never been involved in anti -trust suit
c. The European Commission fined Microsoft over 600 billion for its anticompetitive behavior
d. Microsoft has always gone out of its way to be helpful to its competitors
9. A monopolist operated at the minimum point of her ATC curve
a. Only in the short run
b. Only in the long run
c. In both the short and long run
d. In neither the short nor the long run
10. Which of the following is characteristic of a monopoly?
a. The absence of political power
b. Close substitutes products
c. The ability to make an economic profit in the long run
d. Operating at peak efficiency
11. The firm will charge a price of (image involved)
a. 8
b. 9.65
c. 10.
d. 12.
e. 16
12. Statement I Only natural monopolies are legal in the U.S.
Statement II: Large firms generally operate at peak efficiency
A. Statement I is true and statement II is false
B. Statement II is true and statement I is false
C. Both statements are true
D. Both statements are false
13. The nation’s largest bank has assets over
a. 2.5 billion
b. 25 billion
c. 250 billion
d. 800 billion
e. 1.8 trillion
14. Which statement is true?
A. Our money supply is fixed by law and can be raised b.
Full download : http://alibabadownload.com/product/macroeconomics-australia-7th-edition-mctaggart-test-bank/ Macroeconomics Australia 7th Edition McTaggart Test Bank
1 QUESTION 1 Answer the following questions Only.docxmercysuttle
1
QUESTION 1
Answer the following questions Only write down the numbers ex 1.1 A.
Study TABLE 1 and answer the questions that follow:
TABLE 1
PRICE (in Rand) QUANTITY DEMANDED QUANTITY SUPPLIED
2 160 80
4 140 100
6 120 120
8 100 140
10 80 160
12 60 180
1.1 In TABLE 1, the equilibrium price is ...
A R12
B R4
C R6
D R8
1.2 A Market shortage will exist if ...
A the price is above the equilibrium position
B the price is below the equilibrium position
C there is too many suppliers
D ALL of the above-mentioned
1.3 The additional utility derived from consuming an additional unit of a product is referred to
as .. . utility...
A diminishing
B marginal
C total
D average
1.4 A point inside the production possibility curve represents ...
A an inefficient use of resources
B unemployment
C underemployment
D ALL the above-mentioned
1.5 If an increase in the price of product A causes the demand curve for product B
to shift to the right, then ...
A A and B are compliments
B the price of A must be higher than the price of B
C B must be a normal product
D A and B are substitutes
1.6 If the consumer 's demand for fish increased because of an increase in the price of lamb,
these products are examples of ...
A inferior
B normal
C substitute
D complimentary
user
D:20120903231345+02'00'2012/09/03 11:13:45
PM
--------------------------------------------
1.4 D. correct answer
Q1 = 9/10
user
D:20120903233317+02'00'2012/09/03 11:33:17
PM
--------------------------------------------
grand total 74/150 = 49 %
2
1.7 If the price of a product increases it causes a ...
A shift of the demand curve to the right
B movement along the demand curve
C decrease in the elasticity of demand
D shift of the demand curve to the left
1.8 The concept opportunity costs ...
A can be applied to the analysis of any decision-making process
B is relevant only to Economics
C refers only to actual payments and income
D applies to consumers but not firms
1.9 The fact that a decline in the price of a product causes producers to reduce the quantity
of the product
A the law of supply
B the law of demand
C a change in supply
D a change in demand
1.10 When economists speak of normal goods they mean ...
A manufactured goods with no defects
B goods people usually buy
C goods of which the marginal utility decrease as consumption increases
D goods of which the quantity demanded increases with rising incomes
(10X1=10)
(10)
QUESTION 2
Use the information in the table below and answer the questions that follow:
TABLE 2
Price per square metre in
Rand
: Quantity demand of solar
panels per year in
.. thousands Quantity supplied of solar panels per year in thousands
100 5 40
80 15 25
70 20 20
60 25 15
40 40 10
2.1 Illustrate the demand and supply schedule graphically on one graph. (11)
2.2 user
D:20120903231500+02'00'2012/09/03 11:15:00
PM
--------------------------------- ...
Solutions manual for economics 4th edition by krugman ibsn 9781464143847Kinicki223
Solutions Manual for Economics 4th Edition by Krugman IBSN 9781464143847
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ECO 303 1 of 3Stony Brook University Fall 2016Alejandro .docxSALU18
ECO 303 1 of 3
Stony Brook University Fall 2016
Alejandro Melo Ponce
ASSIGNMENT: MIDTERM I PREPARATION
Due: Optional, but you should use it to prepare for the midterm.
Instructions: This is an optional assignment whose purpose is to prepare you for the midterm.
It consists of six problems. I strongly recommend that you attempt to prepare all questions. On
Tuesday’s Midterm I will pick four questions at random from this assignment which you will need to
answer.
1. Michele, who has a relatively high income I , has altruistic feelings toward Sofia, who lives in such
poverty that she essentially has no income. Suppose Michele’s preferences are represented by the
utility function
UM .cM ; cS / D c
1�˛
M c
˛
S ;
where cM and cS are Michele and Sofia’s consumption levels, appearing as goods in a standard
Cobb-Douglas utility function. Assume that Michele can spend her income either on her own
or Sofia’s consumption (though charitable donations) and that $1 buys a unit of consumption for
either (thus, the “prices” of consumption are pM D pS D 1).
(a) Argue that the exponent ˛ can be taken as a measure of the degree of Michele’s altruism by
providing an interpretation of extreme values of ˛ D 0 and ˛ D 1. What value would make
her a perfect altruist (regarding others the same as oneself)?
(b) Solve for Michele’s optimal choices and demonstrate how they change with ˛.
(c) Suppose that there is an income tax at rate �, i.e. net income now is just .1 � � /I: Solve for
Michele’s optimal choices under the income tax rate.
(d) Now suppose that besides the income tax rate �, there are charitable deductions, so that
income spent on charitable deductions is not taxed. Argue that this amounts to changing the
price pS from $1 to $.1 � � /. Solve for the optimal choices under both the income tax rate and
charitable deductions. Does the charitable deduction have a bigger incentive effect on more
or less altruistic people?
2. Suppose that a fast-food junkie derives utility from three goods—soft drinks .x/, hamburgers .y/,
and ice cream sundaes .z/—according to the utility function
U.x; y; z/ D x0:5y0:5.1 C z/0:5:
Suppose also that the prices for these goods are given by px D 1; py D 4; and pz D 8 and that this
consumer’s income is given by I D 8:
(a) Show that, for z D 0, maximization of utility results in the same optimal choices as in the
case of a Cobb-Douglas utility function U.x; y/ D x0:5y0:5. Show also th at any choice that
results in z > 0 (even for a fractional z) reduces utility from this optimum.
(b) How do you explain the fact that z D 0 is optimal here?
(c) How high would this individual’s income have to be for any z to be purchased?
1
ECO 303 2 of 3
3. Consider the utility function
u.x; y/ D .x C 2/.y C 3/; x � 0; y � 0
with the accompanying budget constraint:
px x C py y � I; px ; py ; I > 0:
(a) Fix a given utility level U > 0 and find an explicit expression for the indifference curve
defined by the utility level U > 0. The ...
C B. The acquisition of more education and training b he labor.docxhumphrieskalyn
C B. The acquisition of more education and training b he labor force
d c. An incre~e in the size of the labor fo:e -~
r D. The realization of economies of scale /
Reset Selection
5.0 Points
Online Exam 7_07 Page 3 of 5
Question 10 of 20
.According to Thomas Robert Malthus, the wage rate woul be depressed to the subsistence level
because of
C A. the power of monopolies.
<8 B. the desire of capitalists to exploit the working cia
c:'~....C:"fI1enafuYcii te.nd·enCY.-·.6fPbPUI:f~~ O_~~~vrin~_e. ".n'.'><""·-"-II'~\. . D. the long:run->a();n=~~~dtrend in investment.
Reset Selection
Question 11 of 20
The lowest the poverty rate during the last 40 years was i
A. 1960. ~ 1i.24-
5.0 Points
" e: B. 1988.
/
C C. 1973.
C D. 1979.
Reset Selection
ntipoverty programs of the 1960s and 1970s
el of poverty. I
5.0 +intsQuestion 12 of 20
Charles Murray believed that the
C' A. drastically reduced the Ie
r B. slightly reduced the level f poverty.
,.r C;.had no im~~!.£!l..thti~v
_____ '- L( :;::;c;;;
Cc D. caused more poverty.-----.--- /
Reset Selection
Question 13 of 20 .
William Julius Wilson believes tha
kfoll-owfn-g-excep-r----
C? A. the rise oLwelfarELdepen
5.0 Points
the rise of black urban poverty was caused by each of the
~cy.
r B. racism.
C. the decline of smokestac I industries.
https://study.ashworthcollege.edu/xsl-port I/tool/517099bb-b16c-444b-91c3-bdc2314... 4/24/2013
C- B. stayed about the same.
Page 4 of 5Online ,Exam 7_07
( D. the exodus from the ghettos of the black middle nd working classes.
Reset Selection
Question 14 of 20
Between 1994 and 2005 our welfare rolls
r A. rose sharply.
5.0 Points
'r c. declined somewhat.
cs:.. D. declined sh_~rpIY~ r::x:J L.j ~ I
Reset Selection
Question 15 of 20
A study by Kathryn Edin and Laura Lein found that
A. virtually all single mothers-whether working or re eiving public assistance-had to
• supplement their income with money from relatives, oyfriends, or the absent father of
their children.
r B. most welfare families lived very comfortably on th ir public assistance checks,
supplemented by Medicaid, public housing, and food tamps.
5.0 Points
C. only half the number of Americans officially below he poverty line were actually poor.
5.0 Points
r D. government assistance hurt the poor much more an it helped the poor.
Reset Selection
Question 16 of 20
The conservative theory of poverty blames __ for welfa e dependency.
~.theP00
X •• B. the government p:::; v Gt-
e c. both the poor and the gov rnment
• B. Persons over 65
5.0 Points
C D. neither the poor nor the g vernment
Reset Selection
Question 17 of 20
. b..-g,r..Gwp..l:ias...the.-t.lig,rnst pove y rate from among thes groups?
r A. Children under 18
" C. White males
~" D. Members of working class ami lies
Reset Selection
https://study.ashworthcollege.edu/xsl-portal tooI/517099bb-b16c- 44b-91 c3-bdc2314!... 4/24/2013
Question 18 of 20
_______ breeds poverty.
( A. joblessness
B. poverty r~4 ~3
c' C ...
1.The aggregate supply curve relating the price level to real GDP.docxherminaprocter
The document discusses key concepts in macroeconomics including:
1. The aggregate supply curve has three segments - horizontal, upward sloping, and vertical - which reflect different levels of resource utilization.
2. Fiscal policy uses changes in government spending and tax revenues to influence aggregate demand and thereby real GDP and price levels.
3. The ability-to-pay principle suggests that those with higher incomes should pay more in taxes to reflect their greater ability to pay.
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QEP Post Math Part 2 — Answers Questions 1-15 on a separate 10.docxamrit47
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 101864 Par L par score
QEP Post Math Part 2 — Answers Questions 1-15 on a separate 101864 Par L par
Name:___________________________________ Banner:__________________________________
1) Suppose you decide to attend summer school and that this is considered a rational choice. When making this
choice,
A) you have made a positive statement.
B) you have used the ceteris paribus assumption.
C) you must have considered the social interest.
D) you must ignore the problem of scarcity.
E) you considered the marginal cost and marginal benefit of your choice.
2) The expenditure approach to measuring GDP is done by using data on only
A) consumption expenditure and investment.
B) wages, rent, interest, and profit.
C) consumption expenditure, investment, government expenditure on goods and services, and net exports
of goods and services.
D) consumption expenditure.
E) consumption expenditure, investment, and government expenditures.
3) The largest expenditure category in the United States is
A) net exports of goods and services.
B) investment.
C) wages.
D) consumption expenditure.
E) government expenditure on goods and services.
4) Economic growth is a sustained expansion of production possibilities, as measured by the increase in
________ over time.
A) population
B) the price level
C) inflation
D) employment
E) real GDP
5) The "value of money"
A) is the quantity of goods and services that a unit of money can buy.
B) increases during inflationary periods.
C) is directly related to the price level.
D) increases during economic expansions.
E) is determined by Fed regulations.
6) If the quantity of money supplied ________ the quantity demanded, in the long run the value of money
________.
A) exceeds; falls as people spend their surplus money
B) is less than; does not change unless the Fed increases the money supply
C) equals; equals zero
D) is less than; falls as people spend their surplus money
E) exceeds; rises as people buy bonds
7) Inflation is a tax because as the government ________ the quantity of money, the price level ________, and
the purchasing power of households' money ________.
A) decreases; rises; decreases
B) decreases; falls; decreases
C) increases; rises; decreases
D) does not change; rises; increases
E) increases; rises; increases
Figure 3-1
8) Refer to Figure 3-1. If the product represented is an inferior good, an increase in income would be
represented by a movement from
A) B to A. B) A to B. C) D2 to D1. D) D1 to D2.
9) Refer to Figure 3-1. A decrease in the price of the product would be represented by a movement from
A) D2 to D1. B) B to A. C) A to B. D) D1 to D2.
10) Suppose that when the price of raspberries increases, Lonnie increases his ...
The document provides instructions for a microeconomics exam consisting of three parts: Part A with 20 multiple choice questions, Part B with 4 essay questions, and Part C with 4 essay questions. Students must answer all questions in Parts A and B, and two questions from Part C. The exam covers topics including the differences between microeconomics and macroeconomics, production possibility curves, demand and supply, costs of production, and market structures. It provides details on the time allotted, materials allowed, and includes a reminder not to turn the paper over until instructed to do so.
This document appears to be a math exam consisting of two sections - Section I does not allow calculators, while Section II does. Section I contains 30 multiple choice questions to be completed in 30 minutes. Section II contains 13 short constructed response questions and allows 60 minutes for completion. The exam instructions state that only one answer should be marked for each multiple choice question and final results only should be written on the answer sheet for constructed response questions. Calculators are allowed in Section II and students should be aware of radian and median modes when using a calculator. A formula sheet is also provided as a reference.
Each brief must include your name, course number, and start ti.docxjacksnathalie
Each brief must include your name, course number, and start time of class. Any deviation from the proper format will result in no points.
Facts: Pinpoint the determinative facts of a case, i.e., those that make a difference in the outcome. Your goal here is to be able to tell the story of the case without missing any pertinent information but also not including too many extraneous facts either. Make sure you have clearly marked the parties’ names and positions in the case (Plaintiff/Defendant or Appellee/Appellant).
Issue: Formulate the main issue or issues in the case in the form of questions, preferably with a yes or no answer, which will help you more clearly state the holding in the next section of the case brief.
Holding: The holding should directly respond to the question in the Issue.
Analysis: This is the most important part of your brief as it describes why the court ruled the way it did. This part of your brief traces the court’s reasoning step by step, so be sure that you record it without gaps in logic as well.
FAILURE TO FOLLOW THE ABOVE RULES WILL RESULT IN NO CREDIT
ECO 301 C Problem Set 3
Deadline: Friday, April 24
1. An economy has a Cobb-Douglas production function. Capital income is
1/4 of real GDP. The depreciation rate is 8% and the saving rate is 5%.
(a) Assume there is neither population growth nor technological progress.
(i) Find the steady-state capital per worker, output per worker, and
consumption per worker.
(ii) Would output Y grow at the state state. If yes, at what rate? What
about capital K?
(b) Assume that the population grows at a rate 0.7% and there is no tech-
nological progress.
(i) Find the steady-state capital per worker, output per worker, and
consumption per worker.
(ii) Would total output Y grow at the state state. If yes, at what rate?
What about capital K?
(c) Assume that rate of population growth is 0.7% and the rate of labor-
augmenting technological progress is 2%.
(i) Find the steady-state capitalper e¤ective worker, outputper e¤ective
worker, and consumption per e¤ective worker.
(ii) Would output per worker Y=L grow at the state state. If yes, at
what rate? What about capital per worker K=L?
(iii) Would output Y grow at the state state. If yes, at what rate? What
about capital K?
(iv) Would real rental rate r grow at the steady state? If yes, at what
rate? What about the real wage w?
(v) Assume the economy is at the steady state. Use growth accounting
to calculate what portion of output growth is due to:
(v-i) an increase in capital
(v-ii) an increase in labor
(v-iii) an increase in total factor productivity
(vi) Assume the economy is at the steady state. You are a policy maker
and your goal is to maximize steady-state consumption per e¤ective worker.
By how much should you change the saving rate in the economy (use a "+"
for an increase and a "�" for a decrease)? Give an example of a policy that
could achieve such a change. Now, assume that your policy is impl ...
ECON 1102, Test 2 (060216) 1
ECON 1102, Section 711, SS1 2016
Do any 40 of the 50 questions: two and one-half points each
Answer questions 1 through 4 based on the graph below.
1. The initial demand curve is D1. There are no rent ceilings or floors. The initial equilibrium monthly rent is
_____. (Put your answer on the answer sheet)
2. The demand curve shifts leftward from D1 to D0 so that D0 is the relevant demand curve. There are no
rent controls. In the short run, the decrease in demand results in
A) lower rents and a decrease in the equilibrium quantity.
B) higher rents and a decrease in the equilibrium quantity.
C) lower rents and an increase in the equilibrium quantity.
D) higher rents and an increase in the equilibrium quantity.
3. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $300 per month. In the short run there will be
A) a shortage and a decrease in search costs. B) a shortage and an increase in search costs.
C) a surplus and an increase in search costs. D) a surplus and a decrease in search costs.
4. The demand curve shifts rightward from D0 to D1 so that D1 is the relevant demand curve. Suppose the
government imposes a rent ceiling of $500 per month. In the short run there will be
A) a surplus of apartments. B) a shortage of 200,000 apartments.
C) a shortage of 300,000 apartments. D) neither a shortage nor a surplus of apartments.
5 A price floor
A) always results in a surplus.
B) always results in a shortage.
C) results in a surplus if the floor price is greater than the equilibrium price.
D) results in a shortage if the floor price is greater than the equilibrium price.
ECON 1102, Test 2 (060216) 2
Answer questions 6 through 8 based on the table below.
Wage rate (dollars
per hour)
Labor supplied
(millions of workers)
Labor demanded
(millions of workers)
12 9 3
11 8 4
10 7 5
9 6 6
8 5 7
6. What is the equilibrium wage rate in an unregulated market? ____ (Put your answer on the answer sheet)
7. If the minimum wage is set at $12 per hour, the number of unemployed workers will be ____
8. If the market is in equilibrium today, and tomorrow a minimum wage is set at $11 per hour, the number of workers
who will lose their jobs is _____
9. In general, how a sales tax is divided between buyers and sellers is determined by
A) the elasticities of supply and demand. C) who the law says must pay the tax.
B) the government’s choice of whom to tax. D) the revenue needs of government.
10. A tariff
A) is a tax imposed on imported goods.
B) is a tax imposed on exported goods.
C) encourages worldwide specialization according to the principle of comparative advantage.
D) has no effect on prices paid by domestic consumers even though it increases the revenue collected by
domestic producers.
11. ...
JNU MA Economics Entrance Test Paper (2013)CrackDSE
This document provides instructions for candidates taking an entrance examination for an M.A. in Economics. It outlines details such as the time allowed, maximum marks, instructions for filling out the answer sheet correctly, and guidelines for marking answers. Candidates are informed that the exam contains 100 compulsory questions to be answered in the provided answer sheet by darkening the correct choice with a ballpoint pen. Each correct answer carries 1 mark, while 1/4 of a mark will be deducted for each wrong answer. Candidates are instructed to write their details on the question paper and answer sheet, darken the appropriate question paper series code, and return both items to the invigilator after completing the exam within the allotted 3 hours
1. (Points 5) The GDP is the value of all final goods and.docxdorishigh
1.
(Points: 5)
The GDP is the value of all final goods and services produced
a. within the nations boundaries.
b. by domestically owned companies.
c. by citizens of the country.
d. by domestically controlled companies.
Save Answer
2.
(Points: 5)
If our population doubles, our GDP quadruples, and our GDP deflator doubles, our per capita real GDP will
a. quadruple.
b. double.
c. stay exactly the same.
d. decline by 25 percent.
e. decline by 50 percent.
Save Answer
3.
(Points: 5)
For purposes of calculating GDP using the expenditure approach, which of the following payments is NOT included in the government spending component?
a. Social Security pensions
b. The wages paid by a local government to its road crew
c. The wages paid by a state government to the workers in its welfare department
d. The federal government's purchase of a submarine from a shipbuilder
e. None of the choices are correct
Save Answer
4.
(Points: 5)
Which of the following is an intermediate product?
a. A road
b. Steel
c. Bread
d. A TV set
e. An automobile
Save Answer
5.
(Points: 5)
National income is the sum of all of the following except
a. wages.
b. savings.
c. interest.
d. rent.
e. profits.
Save Answer
6.
(Points: 5)
Which of the following would increase GDP?
a. More imports
b. Additional leisure time
c. Government removing more litter from highway right of ways
d. People engaging in more "do-it-yourself" projects
Save Answer
7.
(Points: 5)
Which of the following would NOT be included in this year's GDP?
a. The purchase of 100 shares of Microsoft stock
b. The replacement of a muffler on a 1978 Chevy
c. The commission charged by a real estate agent
d. The services of a hair stylist
e. The tuition fee for a course in economics
Save Answer
8.
(Points: 5)
The largest item amount among those listed here is
a. national income.
b. net interest.
c. net domestic product.
d. corporate profits.
Save Answer
9.
(Points: 5)
If GDP increases faster than the GDP deflator,
a. real GDP will rise.
b. real GDP will fall.
c. real GDP will stay the same.
d. There is not enough information to determine what happens to real GDP.
Save Answer
10.
(Points: 5)
Which one of the following is taken into account by GDP?
a. Household production
b. Illegal production
c. Leisure time
d. Custom lawn care services
Save Answer
11.
(Points: 5)
The difference between GDP and NDP is
a. Who has control of the company.
b. Who receives the profit from the sale.
c. Where the money is spent.
d. Depreciation.
Save Answer
12.
(Points: 5)
In the equation C + I + G + Xn, the I is defined as
a. total new investments less a wear out allowance.
b. total investments in new plant and equipment, business inventory changes and new residential housing.
c. domestic consumer income.
d. total investments in new plant and equipment ...
This document is a practice exam for an economics course consisting of multiple choice questions, short answer questions, and essay questions. It tests concepts related to GDP, inflation, unemployment, monetary and fiscal policy. The multiple choice section contains 20 questions testing definitions and applications of core economic concepts. The short answer questions require explaining terms like consumption functions and illustrating equilibrium graphically. The essay questions define nominal and real GDP, define deflation and the Fed's inflation target, and explain how monetary policy impacts interest rates and aggregate expenditure.
Page 1 of 17 ECON 201 Introduction to Macroeconomics .docxalfred4lewis58146
Page 1 of 17
ECON 201: Introduction to Macroeconomics
Final Exam
December 5, 2011
NAME: _________________________________
Circle your TA’s name: Agustin Brian Meysam
Circle your section time: 9 a.m. 3 p.m.
INSTRUCTIONS:
1. The exam lasts 2 hours.
2. The exam is worth 120 points in total: 45 points for the multiple choice questions (Part A), and
75 points for the six analytical problems (Part B).
3. Write your answers for part A (the multiple choice section) in the blanks below. You won’t
get credit for circled answers in the multiple choice section. There is no penalty to guessing, so
be sure to answer all of them.
4. Place all of your answers for part B in the space provided.
5. You must show your work for part B questions. There is no need to explain your answers for the
multiple choice questions.
6. Calculators are permitted. Books, notes, reference materials, etc. are prohibited.
7. Good luck!
PART A: Multiple Choice Problems. Answer multiple choice questions in the space provided
below. PLEASE USE CAPITAL LETTERS.
1 11 21 31 41
2 12 22 32 42
3 13 23 33 43
4 14 24 34 44
5 15 25 35 45
6 16 26 36
7 17 27 37
8 18 28 38
9 19 29 39
10 20 30 40
MC Q1 Q2 Q3 Q4 Q5 Q6 Total
Page 2 of 17
Part A. Multiple Choice Questions (45 points)
1. Money is
A) backed by gold in Fort Knox.
B) the same as income.
C) the value of all coins and currency in circulation at any time.
D) anything that is generally accepted as a medium of exchange.
2. The development of money as a medium of exchange has facilitated the expansion of trade because
A) holding money increases people's income.
B) no other mediums of exchange are available.
C) money eliminates the "double coincidence of wants" problem.
D) holding money increases people's wealth.
3. The price of bonds and the interest rate are
A) not related.
B) positively related.
C) negatively related.
D) sometimes positively related and other times negatively related, depending on the bond payments.
4. As the interest rate falls, people hold ________ money instead of bonds because the opportunity cost of
holding money has ________.
A) more; fallen
B) more; risen
C) less; fallen
D) less; risen
5. The lecture and readings explain the recent rise in food prices by
A) Subsidies to ethanol
B) Economic growth in China
C) Economic growth in the US
D) Quotas on corn imports
E) A) and B)
F) A) and D)
6. An example of a contractionary monetary policy is
A) an increase in the required reserve ratio.
B) a reduction in the taxes banks pay on their profits.
C) a decrease in the discount rate.
D) the Fed buying government securities in the open market.
7. Which of the following sequence of events follows an expansionary monetary policy?
A) r↓ ⇒ I↓ ⇒ AE↓ ⇒ Y↓.
B) r↑ ⇒ I↑ ⇒ AE↓ ⇒ Y↑.
C) r↑ ⇒ I↓ ⇒ AE↓ ⇒ Y↓.
D) r↓ ⇒ I↑ ⇒ AE↑ ⇒ Y↑.
Page 3 of 17
.
Common Final Exam ECON 201 OL2 Spring 2014 I. MULTIP.docxmonicafrancis71118
Common Final Exam ECON 201 OL2 Spring 2014
I. MULTIPLE CHOICE (40 questions 2 points each). Choose the one alternative that best completes
the statement or answers the question.
1) Business cycles are 1) _______
A) used to describe fluctuations in GDP.
B) a description of the time required to bring a new product to market.
C) the transfer of executives between firms.
D) movements in stock prices.
2) If real GDP was 100 in 2011 and 104.4 in 2012, the growth rate of real GDP between 2011 and 2012 was
2) _______
A) 2.2 percent.B) 4.4 percent. C) 100 percent. D) 102.2 percent.
3) When considering imports and exports, economists include the ________ as a component of the GDP.
3) _______
A) net exports B) total imports C) gross exports D) total exports
4) Which prices are used to measure goods and services in calculating the nominal GDP? 4) _______
A) projected prices B) average prices
C) current prices D) past years prices
5) Which of the following is NOT an example of private investment expenditure? 5) _______
A) using credit cards to purchase durable and nondurable goods
B) new houses built during the year
C) increases in inventories on goods produced during the year
D) new plants and equipment added during the year
6) Which of the following is NOT a component of gross domestic product? 6) _______
A) net exports
B) purchases by consumers of finished goods
C) purchases by consumers of used goods
D) government purchases
7) If Cassie's Coffee House purchases 33 cents worth of ingredients and spends 36 cents on wages per cup of
coffee to produce an 89 cent cup of coffee, then Cassie's Coffee House's contribution to GDP is ________ per
cup of coffee. 7) _______
A) 20 cents B) 33 cents C) 36 cents D) 56 cents
8) Economists define the labor force to include 8) _______
A) people who are working.
B) only people who are working full time.
C) people who are not working but are actively looking for a job, and people who are working.
D) all individuals of working age, regardless of whether they are working or looking for a job.
9) If Sam does not have a job and is not looking for work, he is considered 9) _______
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Highlight
A) not in the labor force. B) unemployed.
C) unemployed and in the labor force. D) unemployed and not in the labor force.
10) Suppose that the CPI in Egypt was 111 in 2011 and 122 in 2012. The inflation rate between those two years
was approximately 10) ______
A) 4.8 percent.B) 5.5 percent. C) 9.9 percent. D) 11 percent.
11) In June 2012, the U.S. labor force consisted of 142,415,000 employed and 12,749,000 unemployed. The
U.S. unemployment rate for June 2012 was about 11) ______
A) 7.4 percent.B) 8.2 percent. C) 9.0 percent. D) 11.2 percent.
12) Juanita quit her job to move to Santa Fe to be closer to her family. She is actively looking for a new job in
Santa Fe. Juanita is con.
This document contains an assignment on analytical tools in microeconomics, including supply-demand analysis and optimization. The assignment contains multiple choice questions and word problems related to supply and demand diagrams, shifts in supply and demand curves, market equilibrium, price ceilings, and total spending. It also addresses optimization through graphs of linear functions, marginal analysis, and finding maximum total revenue. The assignment requires students to apply concepts of supply, demand, equilibrium, and optimization to analyze various economic scenarios.
1. The document provides instructions for candidates taking an examination with two papers consisting of 50 questions each. It details rules regarding the use of the answer sheet and question paper booklet, how to mark answers, and notes on copyright and passing scores.
2. Candidates have 1 hour and 30 minutes to complete the 100 total questions. They must fill in identification information correctly on the answer sheet and mark their responses clearly. No extra pages or marks outside the answer sheet will be considered.
3. The exam covers two subjects, with Paper 1 being Business Economics and Paper 2 covering another unnamed topic. Candidates must score at least 40% on each paper and 50% overall to pass the Foundation Programme Examination.
Some of the questions have a image involved. I have attached those .docxboadverna
Some of the questions have a image involved. I have attached those images with the quesiton number as the file name.
1. Which statement is true?
a. Today more workers in the U.S. are members of labor unions than any time in our history
b. Today labor unions are weaker than any time in the last 100 years
c. No major labor union has called a strike since the 1940’s
d. Labor unions are relatively strong in the public (government) sector.
2. Exclusive union strategy involves
a. Increasing the demand for the final product, thereby increasing the demand for labor
b. Restricting the supply of union labor
c. Setting job standards and entry qualifications for members
d. Organizing all workers and bargaining for a wage
e. Negotiating only after a strike has been called
3. An example of an exclusive union would be
a. The Internal Brotherhood of the Teamsters
b. The Communications Workers of America
c. The American Medical Association
4. In which one of these years was labor union membership the highest?
a. 1940
b. 1960
c. 1980
d. 1990
5. Which of the following laws stated that attempts to monopolize conspiracies in restraint of trade, and conspiracies to monopolize were illegal?
a. The Federal Trade Commission Act
b. The Clayton Act
c. The Sherman Antitrust Act
d. All of the Choices
e. None of the Choices
6. Until the passage of the Airline Deregulation Act of 1978, the Civil Aeronautics Board controlled all of the following Except?
a. Fares
b. Assigned routes
c. Profits
d. Entry into the industry
7. The Clayton Act prohibited
A. interlocking directories
B. all forms of monopoly
C. foreign control of US corporations
D. False and deceptive advertising
8. Which statement is true?
a. Microsoft is subject to American antitrust laws but not those of Europe, Asia, or elsewhere
b. Microsoft has never been involved in anti -trust suit
c. The European Commission fined Microsoft over 600 billion for its anticompetitive behavior
d. Microsoft has always gone out of its way to be helpful to its competitors
9. A monopolist operated at the minimum point of her ATC curve
a. Only in the short run
b. Only in the long run
c. In both the short and long run
d. In neither the short nor the long run
10. Which of the following is characteristic of a monopoly?
a. The absence of political power
b. Close substitutes products
c. The ability to make an economic profit in the long run
d. Operating at peak efficiency
11. The firm will charge a price of (image involved)
a. 8
b. 9.65
c. 10.
d. 12.
e. 16
12. Statement I Only natural monopolies are legal in the U.S.
Statement II: Large firms generally operate at peak efficiency
A. Statement I is true and statement II is false
B. Statement II is true and statement I is false
C. Both statements are true
D. Both statements are false
13. The nation’s largest bank has assets over
a. 2.5 billion
b. 25 billion
c. 250 billion
d. 800 billion
e. 1.8 trillion
14. Which statement is true?
A. Our money supply is fixed by law and can be raised b.
Full download : http://alibabadownload.com/product/macroeconomics-australia-7th-edition-mctaggart-test-bank/ Macroeconomics Australia 7th Edition McTaggart Test Bank
1 QUESTION 1 Answer the following questions Only.docxmercysuttle
1
QUESTION 1
Answer the following questions Only write down the numbers ex 1.1 A.
Study TABLE 1 and answer the questions that follow:
TABLE 1
PRICE (in Rand) QUANTITY DEMANDED QUANTITY SUPPLIED
2 160 80
4 140 100
6 120 120
8 100 140
10 80 160
12 60 180
1.1 In TABLE 1, the equilibrium price is ...
A R12
B R4
C R6
D R8
1.2 A Market shortage will exist if ...
A the price is above the equilibrium position
B the price is below the equilibrium position
C there is too many suppliers
D ALL of the above-mentioned
1.3 The additional utility derived from consuming an additional unit of a product is referred to
as .. . utility...
A diminishing
B marginal
C total
D average
1.4 A point inside the production possibility curve represents ...
A an inefficient use of resources
B unemployment
C underemployment
D ALL the above-mentioned
1.5 If an increase in the price of product A causes the demand curve for product B
to shift to the right, then ...
A A and B are compliments
B the price of A must be higher than the price of B
C B must be a normal product
D A and B are substitutes
1.6 If the consumer 's demand for fish increased because of an increase in the price of lamb,
these products are examples of ...
A inferior
B normal
C substitute
D complimentary
user
D:20120903231345+02'00'2012/09/03 11:13:45
PM
--------------------------------------------
1.4 D. correct answer
Q1 = 9/10
user
D:20120903233317+02'00'2012/09/03 11:33:17
PM
--------------------------------------------
grand total 74/150 = 49 %
2
1.7 If the price of a product increases it causes a ...
A shift of the demand curve to the right
B movement along the demand curve
C decrease in the elasticity of demand
D shift of the demand curve to the left
1.8 The concept opportunity costs ...
A can be applied to the analysis of any decision-making process
B is relevant only to Economics
C refers only to actual payments and income
D applies to consumers but not firms
1.9 The fact that a decline in the price of a product causes producers to reduce the quantity
of the product
A the law of supply
B the law of demand
C a change in supply
D a change in demand
1.10 When economists speak of normal goods they mean ...
A manufactured goods with no defects
B goods people usually buy
C goods of which the marginal utility decrease as consumption increases
D goods of which the quantity demanded increases with rising incomes
(10X1=10)
(10)
QUESTION 2
Use the information in the table below and answer the questions that follow:
TABLE 2
Price per square metre in
Rand
: Quantity demand of solar
panels per year in
.. thousands Quantity supplied of solar panels per year in thousands
100 5 40
80 15 25
70 20 20
60 25 15
40 40 10
2.1 Illustrate the demand and supply schedule graphically on one graph. (11)
2.2 user
D:20120903231500+02'00'2012/09/03 11:15:00
PM
--------------------------------- ...
Solutions manual for economics 4th edition by krugman ibsn 9781464143847Kinicki223
Solutions Manual for Economics 4th Edition by Krugman IBSN 9781464143847
Download at: https://goo.gl/cXtEMa
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ECO 303 1 of 3Stony Brook University Fall 2016Alejandro .docxSALU18
ECO 303 1 of 3
Stony Brook University Fall 2016
Alejandro Melo Ponce
ASSIGNMENT: MIDTERM I PREPARATION
Due: Optional, but you should use it to prepare for the midterm.
Instructions: This is an optional assignment whose purpose is to prepare you for the midterm.
It consists of six problems. I strongly recommend that you attempt to prepare all questions. On
Tuesday’s Midterm I will pick four questions at random from this assignment which you will need to
answer.
1. Michele, who has a relatively high income I , has altruistic feelings toward Sofia, who lives in such
poverty that she essentially has no income. Suppose Michele’s preferences are represented by the
utility function
UM .cM ; cS / D c
1�˛
M c
˛
S ;
where cM and cS are Michele and Sofia’s consumption levels, appearing as goods in a standard
Cobb-Douglas utility function. Assume that Michele can spend her income either on her own
or Sofia’s consumption (though charitable donations) and that $1 buys a unit of consumption for
either (thus, the “prices” of consumption are pM D pS D 1).
(a) Argue that the exponent ˛ can be taken as a measure of the degree of Michele’s altruism by
providing an interpretation of extreme values of ˛ D 0 and ˛ D 1. What value would make
her a perfect altruist (regarding others the same as oneself)?
(b) Solve for Michele’s optimal choices and demonstrate how they change with ˛.
(c) Suppose that there is an income tax at rate �, i.e. net income now is just .1 � � /I: Solve for
Michele’s optimal choices under the income tax rate.
(d) Now suppose that besides the income tax rate �, there are charitable deductions, so that
income spent on charitable deductions is not taxed. Argue that this amounts to changing the
price pS from $1 to $.1 � � /. Solve for the optimal choices under both the income tax rate and
charitable deductions. Does the charitable deduction have a bigger incentive effect on more
or less altruistic people?
2. Suppose that a fast-food junkie derives utility from three goods—soft drinks .x/, hamburgers .y/,
and ice cream sundaes .z/—according to the utility function
U.x; y; z/ D x0:5y0:5.1 C z/0:5:
Suppose also that the prices for these goods are given by px D 1; py D 4; and pz D 8 and that this
consumer’s income is given by I D 8:
(a) Show that, for z D 0, maximization of utility results in the same optimal choices as in the
case of a Cobb-Douglas utility function U.x; y/ D x0:5y0:5. Show also th at any choice that
results in z > 0 (even for a fractional z) reduces utility from this optimum.
(b) How do you explain the fact that z D 0 is optimal here?
(c) How high would this individual’s income have to be for any z to be purchased?
1
ECO 303 2 of 3
3. Consider the utility function
u.x; y/ D .x C 2/.y C 3/; x � 0; y � 0
with the accompanying budget constraint:
px x C py y � I; px ; py ; I > 0:
(a) Fix a given utility level U > 0 and find an explicit expression for the indifference curve
defined by the utility level U > 0. The ...
C B. The acquisition of more education and training b he labor.docxhumphrieskalyn
C B. The acquisition of more education and training b he labor force
d c. An incre~e in the size of the labor fo:e -~
r D. The realization of economies of scale /
Reset Selection
5.0 Points
Online Exam 7_07 Page 3 of 5
Question 10 of 20
.According to Thomas Robert Malthus, the wage rate woul be depressed to the subsistence level
because of
C A. the power of monopolies.
<8 B. the desire of capitalists to exploit the working cia
c:'~....C:"fI1enafuYcii te.nd·enCY.-·.6fPbPUI:f~~ O_~~~vrin~_e. ".n'.'><""·-"-II'~\. . D. the long:run->a();n=~~~dtrend in investment.
Reset Selection
Question 11 of 20
The lowest the poverty rate during the last 40 years was i
A. 1960. ~ 1i.24-
5.0 Points
" e: B. 1988.
/
C C. 1973.
C D. 1979.
Reset Selection
ntipoverty programs of the 1960s and 1970s
el of poverty. I
5.0 +intsQuestion 12 of 20
Charles Murray believed that the
C' A. drastically reduced the Ie
r B. slightly reduced the level f poverty.
,.r C;.had no im~~!.£!l..thti~v
_____ '- L( :;::;c;;;
Cc D. caused more poverty.-----.--- /
Reset Selection
Question 13 of 20 .
William Julius Wilson believes tha
kfoll-owfn-g-excep-r----
C? A. the rise oLwelfarELdepen
5.0 Points
the rise of black urban poverty was caused by each of the
~cy.
r B. racism.
C. the decline of smokestac I industries.
https://study.ashworthcollege.edu/xsl-port I/tool/517099bb-b16c-444b-91c3-bdc2314... 4/24/2013
C- B. stayed about the same.
Page 4 of 5Online ,Exam 7_07
( D. the exodus from the ghettos of the black middle nd working classes.
Reset Selection
Question 14 of 20
Between 1994 and 2005 our welfare rolls
r A. rose sharply.
5.0 Points
'r c. declined somewhat.
cs:.. D. declined sh_~rpIY~ r::x:J L.j ~ I
Reset Selection
Question 15 of 20
A study by Kathryn Edin and Laura Lein found that
A. virtually all single mothers-whether working or re eiving public assistance-had to
• supplement their income with money from relatives, oyfriends, or the absent father of
their children.
r B. most welfare families lived very comfortably on th ir public assistance checks,
supplemented by Medicaid, public housing, and food tamps.
5.0 Points
C. only half the number of Americans officially below he poverty line were actually poor.
5.0 Points
r D. government assistance hurt the poor much more an it helped the poor.
Reset Selection
Question 16 of 20
The conservative theory of poverty blames __ for welfa e dependency.
~.theP00
X •• B. the government p:::; v Gt-
e c. both the poor and the gov rnment
• B. Persons over 65
5.0 Points
C D. neither the poor nor the g vernment
Reset Selection
Question 17 of 20
. b..-g,r..Gwp..l:ias...the.-t.lig,rnst pove y rate from among thes groups?
r A. Children under 18
" C. White males
~" D. Members of working class ami lies
Reset Selection
https://study.ashworthcollege.edu/xsl-portal tooI/517099bb-b16c- 44b-91 c3-bdc2314!... 4/24/2013
Question 18 of 20
_______ breeds poverty.
( A. joblessness
B. poverty r~4 ~3
c' C ...
1.The aggregate supply curve relating the price level to real GDP.docxherminaprocter
The document discusses key concepts in macroeconomics including:
1. The aggregate supply curve has three segments - horizontal, upward sloping, and vertical - which reflect different levels of resource utilization.
2. Fiscal policy uses changes in government spending and tax revenues to influence aggregate demand and thereby real GDP and price levels.
3. The ability-to-pay principle suggests that those with higher incomes should pay more in taxes to reflect their greater ability to pay.
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A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
1. ,
Time: 2 hOUfS
Max. Mark~ : 100
Entrance Examinations - 2021
M.A. Economics
Hall Ticket Number
INSTRUCTIONS
Part A: 25 Marks
Pm1 B: 75 Marks
I. Please read the~c instructions carefully before marking yOW" answers on the OMR answer
sheet.
2. Write your HaJl Tkkel Number on the Olffi Answer Sheet given to you. Also write tbe
Hall Ticket Number in the space provided above.
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thereon.
4. Handover the OMR answer sheet after the examination to the Tnvigi!ator.
5. There arc plain sheets in the booklet for rough work, no additionaJ sheets will be
provided.
6. There are a total of 100 questions in this paper: Part A (25 questions) and Part B (75
questions).
7. There is uegatin marking. For each question. the correct answer gets 1 (ONE) mark
and a wrong answer gets - 0.33 marks. Each question has only one eOITect option.
8. The appropriate answer should be coloured with either u blue or a black ball point or a
sketch pen on the OMR sheet. DO NOT USE A PENCIL.
9. The question paper contains 22 pages including the cover page and pages for rough work
(on pages 20 to 22).
10. Thc question paper booklet can be taken by the candidmes at the end of the examination.
1
2. •
PART - A
1. If the invt:n;e supply and inverse dt:lIland [unction:; of a commodity X are given by
P, =- 8..L 4X and Pd = 20 - 5X respectively, and if price P (ltld quantity X are determined at the
e~uality of total demand and lotal supply, then the total surplus = consumer's surplus +
producer's surplus is equal to
A. approximately 4 units.
B. 8 units.
C. 18 units.
D. 72 units.
2. If we have the Lcontief production function y = min {ax I, bx2 } with two inputs x1 and x2,
the associated total cost fUHction will be of the
A. Lcontief function form.
B. Cobb-Douglas function form.
e. linear [ann.
D. non-linear fonTI.
3. In a simple Keynesian model of a closed economy, the marginal propensity to consume
CMPC) is O.S. Iran income tax at 25% of income is introduced th(ln the simple Keynesian
expendirun:: multiplier changes by:
A. +25 %
B. ·25%
C. + 50%
D. - 50%
4. Euler's product exhaustion theorem preswnes
A. fnereasing returns to scale
B. Constant returns to scale
C. Decreas.ing retums to scale
D. No stipulation on returns to scale
5. Arrange the following in the increasing order of income elasticity of demand (ey):
L Luxuries
n. Inferior goods
III Necessities
A. llI - II-T
B. ll - T- JTT
C. [ - Tl - Ill
D. II TIl - I
2
3. 6. rrt·:.~ L"urren( rate of interest change..c; from 5 % to 4 %, the market value of a pre-existing
Dund l:b.:nges by:
A. + 20 %
B. + 25 %
C. -20 %
D. - 25 %
7. Reservation Price is
A. Maximum plice that is fixed by the producer
B. Maximum price that a customer is willing to pay for a good
C. Minimum price that a customer is willing to pay for a good
D. Minimum Price that is fixed by the producer
8. For a commodity, its demand schedule shifts LO {he left and its supply schedule abo shifts
to the len. How do equilibrium price and quantity change?
A. Pric~ and quantity both remain the same, i.e. no change.
D. Impact on price is ambiguous but quantity becomes higher aiter the shift.
C. Price goes down and impact on quantity is ambiguous.
D. Imp(lct on price is ambiguous but quantity becomes lower alter the shift.
9. ffcquilibrium price is below price ceiling fixed by the govenunent. then
A. price ceiling is not binding
B. price ceiling is binding
C. need more information
D. There ,vould be shortages at the price fixed by govemment
10 Suppose the govemment proposes a luxury tax on private jets. The demand for private
jets is clastic and the supply is inel astic, at least in the ShOl1 run. The tax burden will fall on:
A. demanders
B. supplier
C. goverrunent
D. need more infonnation
11. .If the savings rate in an economy is 36% and the incremental output ratio is 4 then the
growth rate of the economy will be
A. 10%
B. 9%
C. 5.5%
D 9.5%
3
4. 12. Which of the following is NOT a theory of tenn structure of interest rate?
A. Expectations theory
B. Quantity theory of money
C. Segmented markets theory
D. Liquidity premium theory
13. The movement to free intemational trade is most likely to generate short-teml
unemployment in whieh industries?
A. Industries in which there are neither imports nor exports
8. Import-competing indusllies.
C. Industries that sell to domestic and foreign buyers
D. Industries that sell to only foreign buyers
14. According to the Heekscher-Ohlin model. the source of comparative advantage is a
countlY's:
A. technology
B. advenising
C. factor endowments
D. entrepreneurship
15. Under perfect C'apital mobility and fixed exchange rate
A. monetary policy is highiy effective
B. monetary policy is cfflXtive to some extent
C. monetary policy completely looses its effectiveness
D. NONE OF THE ABOVE
16.' A bag cuntains 4 blal.:k and 3 white identical balls. Two balls arc drawn in succession at
random without replacement. Consider the following events: Event A is thal both the balls
are black; event B is that both the balls are white; event C is thm the fIrst baU is black and the
se..:ond ball is white. Consider Slatements about probabilities of occurrence of A, B. and C:
L P[C] ~ P[A1 > P[B1
II. 1'[A1 ~ P[B1
IlL l'[r) ~ P[C]
TV. P[B] ~ pre)
A. I and TIl are tnlc
B. TT and IV <U"~ true
C. IU and IV are true
D. 11, III and IV are tTUI;!
4 .
5. ,
-z...-33
17. COnC;!rlt!f an economy with 2~goods. The set of all possible positive relative prices is
givm as: P = { (PI, P2) Ill{. P2 > 0, and PI +P2 = 1 }. Identify the correct statements about
Ill.:: p;up.:Ji ;c~ ofset P:
1. P is convex.
n. P is bounded.
Ill. P is closed.
IV. P is compact.
V. P is empty.
A. TTl only is tme
B. III and IV are true
C. I and IT aTC true
D. V only is true.
18. f(.r) ~ log (l- 3) . x > Y3. Then, f(.r) ~ O. when,
r. x "" - "3 ; 11. x= +2;
A. I and I!I
RIll
C. IT and IV
D. II
19. The domain of the real valued fimctioll f (x) = ..j2x +4 is the interval
A [2.00)
8. [-2, 00)
C. [0,00)
D. Is not defined
20. Which one oClhese statistics is unaffected by outliers?
A. Mean
B. Standard deviation
C. Range
D. Interquarti!e range
21. A result is called "statistically significant" whenever
A. The null hypothesis is tme
B. The p-value is less than or equal to the signiticance level
C. The alternative hypothesis is true
D. The p-value is larger than the significance level
22. The GDP deflator is a Price lndex that measures
IV. x~ - 2.
A. The price level of a basket of consumer goods and selvices included in GDP
B. The value of an economy's fi nal output measlU"ed at current market prices
C. The overall price level of goods and services included in GDP
D. The economy's final output valued in terms of prices in a base year
5
6. r
'Z- - 33
23. The Phillips cm-ve provides a theorClicallink between
A. the liquidity preference and investment demand schedules.
B. the goods market and productivity.
C. the goods market and the labour market.
D. inflation and the demand for money
24. According to the Neoclassical growth theory, sustained growdl can only be explained by
. A. growth in physical capital.
B. growth in the labour force.
C. balanced growth of labour and capital.
D. exogenous teclmological change
25. Consider the following statements:
(i) Todaro model explains rural to urban migration.
(ii) Joan Robinson model of groNth has the concept of 'Golden age growth path'.
(iii) Actual and warranted growth rates are round in the Harrod model of growth.
(i') Solow model of economic growth explains the knife-edge equilibrium point.
Then, which of the abovc statcment(s) is/are correct? Choost: your option:
A. On.ly (i) is correct ·
B. Only (iv) is COiTect
C. Only (ii), (iii) and (iv) are correct
D. Only (i), (ii) and (iii) are correct
6
7. ,
PART-S
26. ill a college, 25% of the students failed in Economics, 15% of the studenTs failed in
English and 10% of the smdcnts failed in both Economics and English. A student is selected
at random. Ifhc failed in English, what is U
le probability that he failed in Economics'?
A 2/5
B. 2/3
C. 3/10
D. 2/10
27. Ir the first quattile is 142 and the semi-interquCll1ile range is 18, what is the value of
median assuming that the distribution is synunctrical?
A. 140
B. ISO
C. 160
D. 170
28. According to the advance estimates given in the Economic Survey 2020-21, India, the
real Gross National Income for the year 2020-21 is projectt.-d
A. to contract by 4.2 percent.
S. to grow by 7.9 percent
C. to contract by 7.9 percent.
D. to grow by 10.4 percent.
29. According to the Mahatma Gandhi NUlioll<ll Rural Employment Guarantee Act 2005
A. Every rural labourer is entitled Cor 100 days of employment
8. Every applicant to which employment is not shown in 15 days, is entitled for
unemployment allowance
C. Every worker under the Act should be paid at least market' wage
D. Every worker should be paid wages in kind
30. PM CARES fund is created by Government ofIndia with an objective to fight:
A. Poverty
B. Conuption
C. Black money
D. Covidl9
7
8. ,
3'I. Let " and V be landom vari<lbles sucb that the correlation between these two variables is
positive but less than I (0 < Carr 0',V) < I). Let X == 2(V - 4) and Y = - O.5W + 2. Arrange
the foHowing in incr~asing order of magnitude of cOITelation:
l. COlT (X.w)
IT. COlT (y,V)
rn. COlT (X,V)
IV. Con (Y,W)
A- I-ll -IV- lII
B. 11 - ) - TTl - IV
C. IIl - IV -I- II
D. IV - ll - l-lll
32. Consider rolling of two fair dice (one White and one Blue), all outcomes being equally
likely. Let IIJ be number that came up on the Vhite die and let II] be the l1Lunher that came up
on the Blue die. Define the random v81iablcs: Y = (1'1- 11,): Z = n
il}-11/1). Let Jly. III be-
means and ol, a l
2
be variance~ respectively of random variables Y and Z. Then,
A- ).tY> Ilz and 2 2
cry > Oz
B. IlY> Ilz and 2 2
Oy < oz.
C. PY<)l!; and 2 '
cry < Oz-.
D. llv < ).lz and 2 2
cry > 0z
33. Identi fy the correct statement about the runction given below:
,
x x < o.
1M ~
o. o<x < 5.
(5-x/ x?:: 5.
A. The function is cont inuous as well as differentiable everywhere.
B. The function is neither continuous everywhere nor differentiable everywhere.
C. The function is c.ontinuous everywhere but is not diffcrcllliable everywhcre.
D. The fWlction is not continuous everywbere but is differentiable everyv,iherc.
34. For an 111 by /I matrix S having full column rank, m > n, let X ::= ST.S; and Y = S.ST.
Then, which of the following are true?
L X and Yare both of the same order.
ll. X and Y arc both of the same rank.
111. X and Yare both symmetric matrices.
IV. X and Y arc both non-singular.
A. I and 11 are true
B. 11 and 1J1 are true
C. III and 1V arc tme
D. I and IV arc tme
8
9. r
35. Given x=2 is a root of the equation: xJ
3-, - 2 -= 0, then the other two roots are:
A. x = - I, these two roots being identical real roots.
B. x =+1; and x = -I.
e. two complex roots.
D. .1,' = + J; and x = -2.
36. What is the difference, from a Marxian point of view, between the modes of exchange of
'Traditional Economic system' and 'Capitalist economic system '?
A. The transmission process noted as C-M-C in the traditional economy and as Moe-
M in the capitalist economy
B. The transmission process noted as C-M-C in the traditional economy and as M-e-
M' in the capiralist economy
C. The transmission process noted as C-M-C' in the traditional economy and as M-e-
M' in the capitalist economy
D. The transmission process noted as C-NI'-C in the traditional economy and as M~
C'-M in the capitalist economy
37. Which of the following best captures the basic idea orthe Mercantilist school?
A. Accumulation of wealth in tel1l1S of bullion or precious metals
B. Generation of surplus
C. Growth of wealth in telms of output
D. Growth of productive labour
38. The book. Asiall Drama: All inquiry into Poverty ofNa;iolls is authored by which of the
following scholars?
A Amanya Sen
B. Thomas Piketty
C. Gunnar Myrdal
D. Joseph Stiglitz
39. According to W. W. Rostow, a student of underdeveloped areas is more likely to be
concerned with the economics of which "wo slages ofgrowth?
A. Economics of High Mass Production and Consumption stages
B. Economics of Take-off and High Mass Cons~mption Stages
C. Economics of Sustained Economic Growth and High Mass Conswnption Stages
D. Economics of Preconditions and the Take-off Stages
40. The Gross Fixed CapiiaI Fonnation in India during 2012~21, according to the Economic
Survey,
A. Has fallen from 34.31 % to 27.59%
B. Has fallen ti·om 27.59 % to 21 .34 %
C. Has fallen from 21.34 % to 17.8 %
D. Increased from 21.34 % to 27.59 %
9
10. r
41. The argument that market failures may be an endemic feature and therefore requires
government intervention is due {Q
A. New classical macroeconomics
B New Keynesian macroeconomics
C. Rational Expectations school
D. Millon Friedman
42. De-mdustrialisation in colonial India stands for
A. Discouragement of modern industry
B. Acquisition o/" Indian companies by British companies
C. Exclusive focus on raIlways, banking and plantations
D. Dcstnlction of traditional craft industries
43. Political economy is pJimaniy a study of
A. Socialism
B. Feudalism
C. Capitalism
D. Mercantilism
44. Which among the foll(lwing eminent Indian economists put forward the "drain of wealth
theory" with respect to the British rult: in India?
A. Dada Bh<li Naoroji
B. Gopal Krishna Gokhale
C. Radhakamal Mukherjee
D. Mahadev OOVilld Ranade
45 ..Consider a society of a finite number of individuals (1 , 2,.. . n) facing a finite number of
states (i.e. altcmatives). ZI, Z2,.. Z (t 2: 3). Every indiVIdual in this SOCIety 15 ahvays able to
unambiguously rank all these stales with each other. We say that an alternatives Zk is Pareto
optimal, iff,
A Every individual in the society considers Zk to be superior to any other slate
B. Every individual in the society considers ZI.:. to he at leas! <IS good as any other
state
C. There is no other state which is considered at least as good as Zk by eVC1)'OnC and
strictly better than Zkby at least one individual.
D.Every individual in the society considers Zk to be at least as good as any other
state and with respect to every other state, Zi (i *" k), there is at least one
individual who strictly prefers ZI.:. 10 this state Zp
10 .
11. ""2..- 33
46. Preferences oran in~i~idual are,r~?rcsented by the utiljly.fun~l~on:. .
u(.t,y) = 1000(10+(.". / j). + (y.20)-) , x 2: 0, Y 2: O. Then this utdlty funCtion,
A. is strictly quasi-concave
B. satisfies non-satiation condition
C. is monotonous increasing
D. is continuous
47. When films get together and attempt to set prices and outputs so as to maximize total
industry profits, they are known as a
A. Nash equilibrium collusion
B. model of price and output leadership
C. Cmte!
D. Stackelbcrg model
48. A person purchased 8 units of sugar when his income was Rs. 2000. As his income has
risen to Rs 2500, he has purchasl!d 12 units o[sugar. Then, the income elasticity ordemand
will be
A.8
B.2
C.5
D.20
49. Given the matrix E = [2 5 I], let matrix B = eE. The determinant value of B is
A Zero
B 8
C. 30
D. 16
50. Based on the follow ing paragraph. answer the question that lollows it.
"In this model, one person, M, wants to induce another person, N to take some action which
is eostly to N. It is given that M may be unable to directly observe the action of N, bllt
instead observes some output, x, that is detennined, CIt least in paI1, by actions of N. "
Wlm;h of the following statements best describes t4e model given in the paragraph above?
A. M is the worker and N is the manager
B. M is the principal and N is the agent
C. It is a price leadership problem where M is the price lcader and N is a fol1ower.
D. It is a resource allocation model where M is the government and N is the filmily.
51. An increase in money supply and a drop in the consumer confidence will lead to
A. A decrease in output and an increase in the interest rate.
B. An increase in output and a decrease in the interest ratc.
C. An ambiguous effect on output and a decrease in the interest rate.
D. An ambiguous cn"t:ct on output and an increase in the interest rate.
11
12. 52. The investment trap is a situation where investment demand is
A. Perfectly interest inelastic
B. Perfectly interest elastic
C. Highly interest elastic
O. lJnitary interest clastic
53. The market demand curve for a public good
A. Is the horizontal sum of all individual demand curves
B. Is the vel1ical Sllm of all individual demand I:urves
C. Is upward sloping
D. Is always horizontal
54. Given r=domesric interest rate. r* = foreign interest rate, d = forward discount on the
home currency, which of the following expression represents the Covered Interest Parity?
A. r = r*
B. 1' = 1'* + d
C. r = (r* + d)2
O. r=r* / d
55. Assume B is social benefit. C is social cost, r is the social dIscount rate, t is the time and
T is the life of all investment }))'ojeet. The Net Present Value (NPV) ol'this project is:
56. The policy corridor in monetary policy conducted by thc RBI in present day consists of
the following
A Repo rate and bank nHe
B. Repo and reverse repo rate
C. Repo rate, reverse repo rate, and Marginal standing facility
D. repo rate and call money rate
57. Which of the following is hue, if the Tobin's q is greater than one?
A. It is profitable for linus 10 create additional capital.
B. Investment in thc economy falls.
C. For fimls, the value of additional capital lalls shon of acquiring it.
D. Expansionary monetaty policy is ineffective.
12
13. 58. If a project costs Rs. 100 at t=O, yields Rs. 60 at t= I, and Rs. 80 at t=2, and the
compound rate of interest is 10% per period, then the NPV equals
A. 20.7
B. 25
C. 10
D. 10.7
59. The "iron law of wages" is
A. The wage-fund theory
B. TIle marginal productivity theory of wages
C. Collective bargaining
D. The subsistence theory of wages
(>0. Malt1m<;ian thOOIY orpopulation explored the relation<;hip between:
A. food supply growth and poplllaiion growth
B. food supply growth and technology
C. population growth and development
D . optimum growth and resources
61. Arrange the foUowi ng commodities according their all India production in million tonnes
in recent years (say. in years 2017-18 onwards) hom highest production to the lowest:
T. Wheat:
A. II - I-IV-ITT
B IV - II - I .. ITT
C. ll ··· III - I-IV
D. I ·· II IV ITT
n. Rice; III. Potato: IV. Milk.
62. Due to a negative shock in the exlernal sector, the demand forecast has become more
pessimistic. How does this influence the marginal efliciency of capilal (MEC)?
A. No change ill :tvfEC
B. An increase in MEC
C. A decrease in MEC
D. Cannot say due to insufficienl infonnation
63. Lcontiefs results were considered paradoxical because the United States of America was
believed to be
A. technologically efficient relative to the rcst of the world
B. capital abundant relalive to the rest of the world
C. labour abundant relative 10 the rest of the world
D. all oflhe above
13
14. , - --- ------------------ -
~-33
64. Nontarifftrade buniers could include all of the following except
A. domestic content laws
B. government procurement policies
C. health, safety, and environmental standards
D. antidwnpinglcountervailing duties applied to imports
65. Import substitution is an example of
A. the principle of comparative advantage
B. the principle of absolute advantage
C. an outward-looking growth strategy
D. an inward·looking growth strategy.
66. The NAfTA is a:
A. monetary union
B. Cree trade area
C. common market
D. customs union
67. The CUITC11T account includes
A. the value oftrade in merchandise
B. services
C. unilateral transfers
D. all of the above
68. Ira farmer sells wheat 10 the miller for Rs.500 anQ the miller sells flour to lhe baker for
Rs.700 and finally, the baker sells bread to the consumer for Rs.IOOO, then total value added
by miller and baker is:
A. Rs. 500
B. Rs. 300
C. Rs. 1700
D. Rs. 1200
69. The crawling peg is
A. An automatic system for revisi.ng the exchange rate
B. "Relatively long periods of constant rates punctuated by sharp devaluations
C. When the Central Bank uses quantitative measures to adjust exchange rates
D. When the Central Bank uses qualitative measures to adjust exchange rates
70. Which of the folloving tax has 'announcement effect' ?
A. Income Tax
B. Propet1y Tax
C. Excise Duty
D. Capital Gains Tax
14
15. 71. Efficienc:.y requires that the prOdlction of pure public goods be underLaken to the point
where,
A. The sum of marginal private benefits is equal to the marginal social CQst of
production.
B. The marginal private benefit is equal to the marginal social cost of production.
C. The marginal social cost exceeds the sum of the marginal private benefils.
D. None of the above
72. The equilibrium level of output and price
A. in monopoly is greater than that in perfectly competitive market
B. is less in monopoly when compared to perfectly competitive market
C. equilibrium output is lower and price higher in monopoly when compared to perfectly
competitive market
D. equilibrium output is higher and price lower in monopoly when compared to perfectly
competitive market
73. Degree 0[' monopoly power, L, is giyen by
A. L = (P·MC)lP
B. L = (MC·P)IP
C. L = (p.MC)IMC
D. L = (P.MC)'(P
74. Consider a duopoly with the following market demand runction: P = 30 - Q. Each firm is
having a zero margi.nal cost. Then, in the COu1110t equilibrium, the tinn outputs and the
market price are:
A. output pruduced 10 by each finn and P is 10
B. output produced 9 by each finn and P is 12
C. output produced j 1 by each finn and P is g
D. output produced 12 by both firm and P is 6
75. The demand and supply functions for a conunodity are given by p = 120 - Sqd and
p = 24 +:5,where p is price, qd is quantity den:andcd and qs is quantity supplied. Find the
equilibrium quantity and pJice.
A. q = 18 a)1d p = 5
5
B. q =:; and p =30
C. q = 18 and p = 30
D. q = 120 and p = 24
lS
16. 2..-'33
76. Jfthe demand flmction for the product ofa firm is p = J 1350 - 6q, fmd the output
level that maximizes total revenue.
A. q = 1350
B. q = 150
C. q = 225
D. q = 36.74
77. Suppose the demand fimctions for goods I. 2, and 3 have the following functional fonns,
where,Qdenotes quantity demanded, P denotes price, and H denotes i.ncome:
(il. Q, = 120 - 3.sP, - 6P, + 14H
(ii). Q, = 100 - 2Pz + 3P, + 1.lH
(iii). Q, = 1500 - O.sP, - 30H
Based on these demand functions, which of the following goods arc known to be nOimal
goods'!
A. (i), (ii) and (iii).
B. only (i)
C. only (iii).
D. (i) ancl (ii) only
78. Which of the following economists proposed the idea of Balallced Growth in
development theory?
A. Rosenstein Rodan
8. Ragnar Nurkse
C. Althur Lewis
D. Harvey Liebenstein
79. AJl1m1ya Sen argues in his work on Commodifies and Capabilities that 'mjudging the
well-being or the person, it would be premature to limit the analysis to the characteristics of
goods possessed. We have to consider. .. '. Choose the correct option.
A. 'Fullctionings' of Persons
B. 'Entitlements' ofPersons
C. 'Endowments' ofPersons
D. 'Lackings' of Persons
80. According to Thomas Pikeny, in the post·1970s and 80s the factor which to much greater
extent determines who owns property, to what extent and who does not is:
A. Intellectual Propeny Rights;
B. Infol1uation Technology
C. Digital Money
D. Inheritance
16
17. 81. Given the function V(x!, Xl) = log(x? - X22) -log(Xt1 +X22), the value of the function,
Y = X1W l + X
2W2 (where, WI and W2 are first order partial derivatives w.r. t. x and X2
respectively), is:
A. Zero
B 25
C. +lor -l
D. can not be dctennilled
82. If the utility function U (x, y) = -Jx2 + y2, for xand y?: 0, then the indifference curves
are
A. Convex
13. Concave
C. Quasi-concave
D. Not enough information
83. For an industry with II finns, one with 50% marker sbare ami lhl.: other ten finTIs with
5% market share each, thc Herfindahl index is equal to:
A. 2,750
B. 2,550
C. 650
D. 550
84. A common fishing ground is:
A. Exclusive and Rival
B. Nonexclusive and Nonrival
C. Exclusive and Nonrival
D. Rival and Nonexclusive
85. Chi-square test is used for
A. Association between attributes
8. Significance of correlation co-efficient
C. Slope of regression line
D. Equality between two means
86. Estimator is defined as
A. Sampling mean of a distribution
B. A specific observed value
C. Sample statistic to estimate a population parameter
D. None of the above
17
18. 87. Bilateral Monopoly is
A. lvlarket with only one seller and two buyers
B. Market with tvo buyers only
C. MaTket with one seller and one buyer
D . Market with two sellers only
88. An increase in real interest rate causes desired investment to fall. Why?
A. The user cost increases which reduces desired capital stock
B: The tax-adjusted user cost increases, which increases desired capital stock
C. The user cost decreases vhich increases desired capital stock
D. The desired capital stock increases
89. The difference between the actual unemployment rate and dIe natural rate of
unemployment is called
A. Structural UneOlplo;<1nent
B. Seasonal Unemployment
C. Frictional Unemployment
D. Cyclical Unemployment
90. The type of monetary policy that is used in India, New Zealand, and the United Kingdom
1S:
A. monetary targeting.
B. inOation targeting.
C. GDP growth targeting.
D. interest-rate targeting.
91. Universal Basic Income Transfer, a concept much discussed in the literature, aims to
rectify
A. Exclusion of precarious labour under unemployment
B. Exclusion ofhollsewives, old people anJ differently-abled people from the market
C. Social exclusion of minorities
D. All of the above
92. In Liscal year 2018, the aggregate public health expenditLU"c as percentage of GDP was:
A. 0.78 percent
B. 4.61 percent
C. 1.28 percent
D. 8.23 percent
18
19. 93. Suppose the probabi lities of two independent events A and B are equal to 0.2 and 0.4.
Then the conditional probability, P(A/B) is:
A 0.2
B. 0.5
C. 0.08
D. 0.D2
94. Consider two samples. Sample A has the following observations: -6, -6, -1, 0, I, 6, 6; and
sample B has the following observations: 521,524,526,527,528, 530, 533. Then,
A. Range of A is greater than range ofB
B. Variance or A is greater than variance of B
C. Range of A is smaller than range of B
D. Variance of A is smaller than variance of B
95. Unemployment resulting from a mismatch of workers' skills and Job requirements is
called
A. frictional unemployment.
B. stzuctural unemployment.
C. seasonal unemployment.
D. cyclical unemployment.
96. If the aggregate price level at time t is denoted by CPIb the inflation rate from time t - 1
to t is defined as:
A. IT! = (CPll - CPl!_ 1)/ CPII . 1.
B.1tI=(CPIl _l - CP11_ 1
)/CPl!.j.
C. n!=(CPII... 1- CP[!) / CrI!+j.
O. Itt = (CPIl - Cprl . I )! CPlt.
97. What is the interest ratt: at Vhich the Reserve Bank. of India lends money to commercial
banks?
A. repo rate
B. reverse repo
C. call money rate
D. prime rate
98. A rise in the price level causes the demand for money to _ ..... __ and the interest rate
to ____, everything else held constant.
A. decrease; decrease
B. decrease; increase
C. increase; decrease
D. increase; increase
19
20. 99. As per the India's union budget 2021-22, the Fiscal Deficit is estimated to be:
A. 7.4 percent of GOt>
B. 8.5 percent orGDP
C. 9.1 percent afGDP
D. 9.5 percent of GOP
100. What is the disinvestment target for financial year 2021-22 for India?
A. 1.60 LAKH CR
B. 1.70 LAKH CR
C. 1.75 LAKH CR
D. 2.00 LAKH CR
20
21. r
SchD
ol/Department/Centre
Course/Subject
Q. No. Answer Q.No.
1 8 26
2 C 27
3 0 28
4 8 29
5 0 3D
6 8 31
7 8 32
8 0 33
9 A 34
10 8 35
11 8 36
12 8 37
13 8 38
14 C 39
15 C 40
16 A 41
17 C 42
18 D 43
19 8 44
20 0 45
21 8 46
22 C 47
23 C 48
2' 0 49
25 0 50
University of Hyderabad
Entrance Examinations - 2021
SCHOOL Or ECONOMICS
MAjE
CONOMICS
Answer , Q.No. Answer
8 51 C
C 52 A
C 53 8
8 54 8
0 55 A
0 56 C
D 57 A
A 58 A
8 59 0
A 60 A
B, C@ both 61 8
correct
A 62 C
C 63 8
0 64 0
A 65 0
8 66 8
0 67 0
C 68 A
A ' 69 A
C 70 C
0 71 A
C 72 C
8 73 A
A 74 A
B 75 C
Q. No.
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
Note/Remarks: Q.No.36 the correct answer is 'B' or '(' and B&c.
Answer ,
8
0
8
A
0
A
8
A
0
A
C
C
A
0
8
0
C
A
8
B
A
A
0
Cancel·
, C
Q.No. 99 benefit will be given to a" ca ndid<ltes.
. R~
Signature of the Dean
Schoo! of Economics
,