Economic Environment in Business & Finance Analysis | Business Technology and Finance | Học viện Tài chính

The rent earned by land The wage earned by workers Investment in the businesses
Interest earned by capital investment Correct 1/1 Points
5. Which of the following is a component of GDP according to income approach: * Government spending
Spending for consumption by households Net export
The profit earned by entrepreneurship Correct 1/1 Points
6. What is the role of the government in the national economy? *
Government plays as an important buyer for necessities.
Government mainly determines the price equilibrium.
Government acts as the producer of certain goods and services to serve the public as a whole.
Government makes sure that the national economy does not fall in recession.
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7. Which of the following is NOT one of the functions of the government within the national economy? *
Producer of certain goods and services.
Purchaser of final goods and services and then adds to total consumption expenditure.
Controller of market mechanism.
Actor to make transfer payment from one section of economy to another Correct 1/1 Points
8. The situation in which a household spends total additional income for
consumption rather than saving has ÒMarginal propensity to consume (MPC): * Greater than 1 Equal to 1 Lower than 1 Equal to 0 Correct 1/1 Points
9. An economy experiencing a decrease in its GDP for 2 consecutive quarters is
considered to be in which phase of the business cycle? *
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10. An extreme recession lasting three consecutive years or more and resulting in
a decrease in annual GDP of as least 10% is defined as: * Recession. Depression. Recovery. Boom. Correct 1/1 Points
11. Which of the followings refers to the feature of ÒRECOVERYÓ phase in business cycle? * Consumer demand falls rapidly.
Average price level remains constant or increases slowly.
Business failures occur as firms cannot to survive anymore.
A reduction in inventory level.
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12. Which of the following refers to the signal of Deflation: * A decrease in general prices. An increase in general prices. Inflation and stagnation.
Decline in the purchasing power of money. Correct 1/1 Points
13. Which of the following leads to cost push inflation? * An increase in tax rate.
A decrease in government spending. An increase in interest rate.
An increase in oil and gas prices. Correct 1/1 Points
14. A country which has a higher inflation rate than its major trading partners experiences: *
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An increase in balance of payment.
A decrease in balance of payment. An increase in export
An excess of export than import. Correct 1/1 Points
15. Fiscal policy is government policies on: * Taxation. Interest rate. Exchange rate. Cost of borrowing. Correct 1/1 Points
16. Which of the following factors is NOT included in the national influences of the macroeconomic environment? * Government policy. Business cycle. Market mechanism. Inflation.
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17. What factor does not directly determine the demand of a certain goods or service? * Cost of production. The price level.
The householdsÕ disposal income. Fashion and expectation. Correct 1/1 Points
18. Which of the following factors is the direct determinant of quantity of supply under business perspective? *
The level of technology application. The disposal income.
The level of government spending.
The change in consumption pattern. Correct 1/1 Points
19. Which of the following is the characteristic of ÒInferior goodsÓ? *
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An increase in income leads to a decrease in quantity of demand.
An increase in income leads to an increase in quantity of demand.
A decrease in income leads to an increase in the quantity of demand to a certain point,
and then a decrease in demand appears.
An increase in income leads quantity of demand to increase to a certain level and then
fall if income continues to increase. Correct 1/1 Points
20. Price elasticity to demand (PED) has positive value for: * Normal goods. Inferior goods. Giffen goods. Substitutes. Correct 1/1 Points
21. What type of product has the feature that an increase in price leads to an
increase in quantity of demand and products sold in high-end market? * Giffen goods. Veblen goods. Necessities. Inferior goods.
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22. Amber manufactures pieces of classic furniture. Amber predicts that ÒIf
peopleÕs income rises next year, then the demand for my furniture will
increaseÓ. The accuracy of AmberÕs prediction depends on whether the pieces of furniture he produces: * are normal goods. have few substitutes. have many complements. have few complements. Correct 1/1 Points
23. X and Y are 2 substitutes. When the price of X increases, the quantity of demand for Y will: * increase not change decrease
increase first and then decrease Correct 1/1 Points
24. If product A and product B are complements, the decrease in price of product A will lead to: *
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an increase in quantity of demand of both product A and product B.
a decrease in quantity of demand of both product A and product B.
an increase in quantity of demand of product A and a decrease in quantity of demand of product B.
a decrease in quantity of demand of product A and an increase in quantity of demand of product B Correct 1/1 Points
25. Potatoes are a Giffen good. An increase in the price of potatoes will cause: *
an increase in demand for potatoes.
a decrease in demand for substitutes for potatoes.
a decrease in demand for potatoes.
an increase in demand for substitutes for potatoes. Correct 1/1 Points
26. The cross elasticity of demand between Product A and Product B is positive. The two products are: * complements. substitutes. veblen goods. unrelated.
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27. For the normal goods or necessities, value of PED is: * greater than 0 greater than 1 lower than 1 lower than 0 Correct 1/1 Points
28. The demand curve which is a vertical straight line is the case of demand: * Being perfectly inelastic. Being inelastic. Being perfectly elastic. Being unit elastic. Correct 1/1 Points
29. The demand curve which is a horizontal straight line is the case of demand: *
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30. In case demand is elastic, an increase in price will result in: *
A fall in quantity of demand and an increase in total expenditure.
A fall in quantity of demand and a fall in total expenditure.
An increase in quantity of demand and an increase in total expenditure.
An increase in quantity of demand and a fall in total expenditure. Correct 1/1 Points
31. Demand for a good is income elastic when income elasticity of demand is: * between 0 and 1 less than 0 greater than 1 equal 0
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32. Demand for a good is negatively income elastic. This good is: * Giffen goods. Veblen goods. Inferior goods. Necessities. Correct 1/1 Points
33. Cross elasticity will be 0 for: * 2 goods are substitutes 2 goods are complements Inter-related goods. Unrelated goods. Correct 1/1 Points
34. The supple curve is a vertical straight line when supply is: *
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35. Which of the following are NOT associated with conditions of perfect competition? *
Suppliers earn ÔnormalÕ profits.
Consumers lack influence over market price. Differentiated products. A single selling price. Correct 1/1 Points
36. The governmentÕs fiscal policy is considered as contractionary when: *
Increased taxation without an increase in public spending
Decrease both public borrowing and taxation.
Increased both public borrowing and public spending.
Increased public spending and decreased taxation.
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37. A shift of the demand curve to the right could be caused by which of the following conditions: * A fall in household income.
An increase in positive expectation about the market future.
A rise in the price of a complement.
A fall in the price of a substitute. Correct 1/1 Points
38. A shift of the supply curve to the left could be caused by which of the following conditions: *
An increase in cost of production.
An increase in technology application.
An increase in the prices of related goods.
A decrease in the prices of other goods. Correct 1/1 Points
39. Which of the following is feature of black market: *
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Maximum price is lower than equilibrium price.
Minimum price is higher than equilibrium price
Maximum price is higher than equilibrium price
Minimum price is lower than equilibrium price. Correct 1/1 Points
40. The price of a product is $2.5 per unit, on average 40,000 units of the product
are sold each month. At a price of $3 per unit, on average 35,000 units per
month are sold. The price elasticity of demand (PED) for the product and type of this product are: *
PED is -0.625, the product is normal and elastic demand.
PED is 0.625, the product is a Giffen product and inelastic demand.
PED is -0.625, the product is normal product and inelastic demand.
PED is 0.625, the product is a Giffen product and perfectly elastic demand. Correct 1/1 Points
41. The price of a product is $2.5 per unit, on average 40,000 units of the product
are sold each month. At a price of $3.5 per unit, on average 55,000 units per
month are sold. The price elasticity of demand (PED) for the product and type of this product are: *
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PED is 0.9375, the product is normal product
PED is 0.9375, the product is a Giffen product
PED is -0.9375, the product is normal product
PED is -0.9375, the product is a Giffen product Correct 1/1 Points
42. The price of Sea has fallen by 5% in the last month, and in the same period
demand for Halcets where there has been no price change, has risen by 8%.
What is the cross- price elasticity of demand between Sea and Halcets? * -1.600 -0.625 1.600 0.025 Correct 1/1 Points
43. The market for a product is a natural monopoly. Production of the product must be associated with: * High marginal costs Low marginal costs
Economies of scope acting as a barrier to entry Low fixed costs.
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