Trắc nghiệm - Đề số 2 và đề số 3 môn Kinh tế vĩ mô | Trường Quốc tế - Đại học Quốc gia Hà Nội

QUESTION 1
The economising problem is essentially one of deciding how to make the best use of:
A: virtually unlimited resources, to osatisfy virtually unlimited wants.
B: limited resources, to satisfy virtually unlimited wants.
C: unlimited resources, to satisfy limited wants.
D: limited resources, to satisfy limited wants. QUESTION 2
Production possibilities (options) Capital goods Consumer goods
Refer to the above data, if the economy is producing at production option C, the opportunity
cost of the tenth unit of consumer goods will be: A: 4 units of capital goods. B: 2 units of capital goods. C: 3 units of capital goods.
D: ⅓ of a unit of capital goods. QUESTION 3:
Which of the following could be expected to produce an increase in the demand for chicken
A. a reduction in the price of chicken food
B. a decrease in the price of chicken
C. an increase in the supply of chicken
D. an increase in the price of pork. QUESTION 4
If the price of declines, the demand curve for the complementary product will: A. shift to the left. B. decrease. C. shift to the right. D. remain unchanged. QUESTION 5
Price discounting of 3-star Hotel daily room tariffs has shown that cutting prices by leads
to 12%, more rooms being booked. We can conclude that
A. demand for hotel rooms is price elastic and discounting increases revenue
B. demand for hotel rooms is price elastic and discounting reduces revenue
C. demand for hotel rooms is price inelastic and discounting increases revenueD. demand
for hotel rooms is price inelastic and discounting reduces revenue QUESTION 6
If rice demand is inelastic, a good rice harvest will cause rice growers' revenue to:
A. increase because of the increase in the quantity that farmers can sell
B. remain unchanged, because the increase in the quantity that can be sold will be matched by an equal decrease in price
C. increase because of a downward movement along the supply curve, encouraging an increase in demand
D. decrease because of a percentage fall in price greater than the percentage increase in quantity sold QUESTION 7
The buyer' tax incidence would be higher if:
A: the price elasticity of demand is higher
B: the price elasticity of demand is lower
C: the price elasticity of demand is perfectly elastic D: None of the above QUESTION 8
Suppose that a firm's output increase from 910 to 1070 units when it increases its labour
input from 63 to 64 workers. The marginal product of the last worker is: A 1070 B. 910 C. 64 D. 260 QUESTION 9
Marginal cost may be defined as the:
A: rate of change in total fixed cost which results from producing one more unit of output.
B. change in total cost which results from producing one more unit of output.
C: change in average variable cost which results from producing one more unit of output
D: change in average total cost which results from producing one more unit of output QUESTION 10
A firm in a competitive market is producing at the level of output that maximises profit. At this output level:
A. marginal revenue equals price
B. average revenue equals marginal cost
C. marginal revenue equals marginal cost D. all the above QUESTION 11
Consider the following relationship between cost and output for a perfectly competitive firm:
If the market price of the firm’s output is $12, how many units of output should the firm produce: 3 4 5 6 QUESTION 12
A firm finds that its MR = MC output, its TC = $1,000, VC = $800, FC = $200 and total
revenue is $900. This firm should: Close down in the short run
Produce because the resulting loss is less than its FC.
Produce because it will realise an economic profit
Liquidate its assets and go out of business QUESTION 13
Which of the following do firms in monopolistic competition, oligopoly and monopoly
have in common. All have: A,Strongly competitive features
B,Downward sloping demand schedules
C,Full control of their output price D,A small number of producers QUESTION 14
If a firm doubles its output in the long run and its unit cost of production decline, we can conclude that:
A,Technological progress has occurred
B, Economies of scale are being realized
C,The firm is encountering diminishing returns
D, Diseconomies of scale are being encountered QUESTION 15
In a perfect competitive industry, the market price of the product is $12. Firm A is
producing the output at which average cost equals marginal cost, both of which are $10. TO
maximize its profit, firm A should: A. decrease output B. expand output C. leave output unchanged D. increase its selling price QUESTION 16
Which of the following best describes the situation of firms in monopolistic competition?
A. they are normally as large as monopolies
B. they enjoy substantial barriers to entry
C. they are typified by inter-dependence between firms
D. they produce similar. but not identical products QUESTION 17
Price will always be greater than marginal revenue for a monopolist because:
A. The firm faces a perfectly elastic demand curve
B. The demand curve is above the ATC curve
C. Since no new firms can enter the market, the firm is not forced to lower price to increase quantity sold
D. The firm must lower price for all units sold in order to increase the quantity sold QUESTION 18
Compare to perfectly competitive firm, a monopolist firm:
A. Produce a higher level of output and make a higher price
B. Produce a lower level of output and make a lower price
C. Produce a lower level of output but make a higher price
D. Produce a higher level of output but make a lower price QUESTION 19
According to the kinked demand curve theory theo thuyết đường cầu gãy khúc , an oligopolistic firm will:
A. always cam economic profits:
B. be faced with a more inelastic demand curve if it increases price
C. be faced with a more clastic demand curve if it reduces price
D. match price decreases and ignore price increases of rivals Giảm giá khi đối thủ
giảm nhưng lờ đi khi đối thủ tăng giá QUESTION 20
Price competition among oligopolists ( thiểu quyền/ độc quyền nhóm ) usually:
A. Results in higher profits for all firms as a result of the increase in sales
B. Lowers profits for all firms as total revenue for the industry falls
C. Takes the form of advertising and product differentiation D.
Is frequent because it is a simple way to compete with rivals. DE SO 2:
The economising problem is essentially one of deciding how to make the best use of
A: virtually unlimited resources, to satisfy virtually unlimited wants.
B: limited resources, to satisfy virtually unlimited wants.
C unlimited resources, to satisfy limited wants
D: limited resources, to satisfy limited wants QUESTION 2
The production possibilities curve is bowed out from the origin because:
A: of increasing opportunity cost.
B: economic resources are perfectly substitutable in the production of the two products. C: of underemployment.
D: equal quantities of both products are produced at each possible point on the curve. QUESTION 3
The construction of demand and supply curves assumes that the primary variable that
influences decisions to produce and purchase goods is: A: price. B: expectations. C: preferences. D: incomes QUESTION 4
If X is a normal good, a rise in money income will shift the:
A: supply curve for X to the left.
B: supply curve for X to the right.
C: demand curve for X to the left.
D: demand curve for X to the right. QUESTION 5
If the price of K declines, the demand curve for the complementary product J will: A. shift to the left. B. decrease. C. shift to the right. D. remain unchanged. QUESTION 6
If Vietnam Airlines increases its total revenue when it discounts its prices by 10% then p giảm mà tr tăng
A. its passengers' demand is elastic
B. its passengers' demand is inelastic
C it should continue to decrease its prices as demand elasticity for the service doesn't change
D. it means the provider must be a monopolist QUESTION 7
If rice demand is inelastic, a good rice harvest will cause rice growers' revenue to:
A. Increase because of the increase in the quantity that farmers can sell
B. Remain unchanged, because the increase in the quantity that can be sold will be matched by an equal decrease in price
C. Increase because of a downward movement along the supply curve, encouraging an increase in demand
D. Decrease because of a percentage fall in price greater than the percentage increase in quantity sold. QUESTION 8
The seller' tax incidence would be higher if.
A: the price elasticity of demand is higer
B: the price elasticity of demand is lower
C: the price elasicity of demand is perfectly elastic D: None of the above QUESTION 9
Suppose that a firm's output increase from 910 to 1170 units when it increases its labour
input from 63 to 64 workers. The marginal product of the last worker is: A. 1070 B. 910 C. 260 D. 64 QUESTION 10
If marginal cost is falling and is lower than average total cost then
A. average total cost is falling
B. average total cost is constant
C. average total cost is rising
D. average total cost is at a minimum QUESTION 11
A firm in a competitive market is producing at the level of output that maximises profit. At this output level:
A. marginal revenue equals price
B. average revenue equals marginal cost
C. marginal revenue equals marginal cost D. all the above QUESTION 12
A firm will cease production in the short-run if it cannot
A. cover its total costs at any level of output
B. cover its total fixed costs at any level of output
C.cover its total variable costs at any level of output
D. earn a normal profit at any level of output QUESTION 13
In a competitive market a Firm has output and total cost data as shown below Output Total Cost 0 2,000 10 3,000 20 4,000 30 4,500
What is the level of average variable cost when the Firm produces 20 units of output? A. $100 B. $200 C. $2,000D. $1,000. QUESTION 14
If a firm doubles its output in the long run and its unit costs of production decline, we can conclude that:
A: technological progress has occurred.
B: economies of scale are being realised.
C: the firm is encountering diminishing returns
D: diseconomies of scale are being encountered. QUESTION 15
Which of the following is not characteristics of a purely competitive industry? A. A large number of sellers B. Identical products
C. Substantial barriers to entry D. Relatively small firms QUESTION 16
Consider the following relationship between cost and output for a perfectly competitive firm Total cost = $20 $30 $41 $54 Q = 3 4 5 6
If the market price of the firm's output is $12, how many units of output should the firm produce: A. 3 B. 4 C. 5 D. 6 QUESTION 17
Price will always be greater than marginal revenue for a monopolist because:
A. The firm faces a perfectly elastic demand curve
B. The demand curve is above the ATC curve
C. Since no new firms can enter the market, the firm is not forced to lower price to increase quantity sold
D. The firm must lower price for all units sold in order to increase the quantity sold QUESTION 18
Mutual interdependence' sự phụ thuộc lẫn nhau means that each oligopolistic firm: khi đối
thủ giảm thì giảm, khi họ tăng thì lờ, vd hàng ko, viễn thông, A: faces a perfectly elastic demand for its product.
B: must consider the reactions of its rivals when it determines its price policy.
C produces a product identical to those of its rivals.
D: produces a product similar, but not identical, to the products of its rivals.
QUESTION 19 If the four-firm concentration ratio for industry X is 80, this means that:
A: the four largest firms account for 80% of total sales.
B: each of the four largest firms accounts for 20% of total sales.
C: the four largest firms account for 20% of total sales.
D: the industry is monopolistically competitive. QUESTION 20
Under monopolistic competition the differentiation of products implies that:
A. Individual firms face downward sloping demand curve
B. Both marginal cost and marginal revenue will increase as output increase
C. Individual firms will make economic profit even in the long run
D. Individual firms will produce at minimum average cost in the long run \ Đề số 3
Part 1: Multiple Choice Questions (5 points)
1 The Vietnam's economy relies
A. exclusively on the market mechanism; cơ chế thị trường
B. exclusively on the market mechanism in a mixed economy
C. exclusively on the command mechanism cơ chế chỉ huy (có sự can thiệp chính phủ)
D. equally on market and command mechanisms in a mixed economy
2 Which of the following is a normative statement? Tuyên bố chuẩn tắc là tuyên bố chủ
quan, ý kiến nên hoặc k nên >< positive statement A. Pollution is an example of an external cost.
B. Firms that pollute should be forced to shut dowi
C. Pollution makes people worse off.
D. Pollution imposes opportunity costs on others.
3 If both demand and supply increase, then equilibrium price
A. will rise and quantity will increase
B. could rise or fall or unchanged and quantity will increase
C. will fall and quantity will increase
D. will rise and quantity could either increase or decrease
4 A relative price is: Giá tương đối A. A
price expressed in terms of money.
B. the ratio là tỷ lệ of one money price to another. Phản ánh chi phí cơ hội như táo 2$ vs cam 1$
C. what you get paid for babysitting your cousin.
D. equal to a money price.
5 The quantity demanded of a good or service is the amount that A.
consumers plan to buy during a given time period at a given price.
B. firms are willing to sell during a given time period at a given price.
C. consumer would like to buy but might no be able to afford.
D. is actually bought during a given time period at a given price.
6 In the book market, the supply of books will decrease if any of the following occur except
A. a decrease in the number of book publishers.
B. an increase in the future expected price of a book
C. a decrease in the price of a book.
D. an increase in the price of paper.
7 A country has a comparative advantage in a product if the world price is
A. lower than that country's domestic price without trade.
B. higher than that country's domestic price without trade.
C. equal to that country's domestic price without trade.
D. not subject to manipulation by organizations that govern international trade.
Absolute advantage: lợi thế tuyệt đối: Sản xuất hàng hóa tốn ít chi phí đầu vào hơn
Comparative advantage: Lợi thế so sánh: Sản xuất hàng hóa tốn ít chi phí cơ hội hơn => Ai
có lợi thế so sánh thì nên sản xuất
A country has a comparative advantage => Nên sản xuất hàng hóa => Xuất khẩu (Export)
=> Giá thế giới (world price) cao hơn giá trong nước
8 If, as people's incomes increase, the quantity demanded of a good decreases, the good is called A. a substitute. B. an inferior good. C. a normal good. D. a complement.
9 A market for good X given by the following function: cầu P = 132 − 4Q; cung P = 66 +
2Q. Consumer and producer surplus at the equilibrium point are:
A. 𝐶𝑆 = 121; 𝑃𝑆 = 242
B. 𝐶𝑆 = 422; 𝑃𝑆 = 121
C. 𝐶𝑆 = 242; PS = 121
D. 𝐶𝑆 = 242; PS = 211
10 The quantity supplied of a good or service is the amount that
A. is actually bought during a given time period at a given price.
B. producers wish they could sell at a higher price.
C. producers plan to sell during a given time period at a given price.
D. people are willing to buy during a given time period at a given price.
11 Good 𝐴 and good 𝐵 are substitutes thay thế in production. The demand for good 𝐴
increases so that the price of good 𝐴 rises. The inerease in the price of good 𝐴 shifts the
A. demand curve for good 𝐵 rightward.
B. demand curve for good B leftward.
C. supply curve of good B rightward.
D. supply curve of good B leftward.
12 A fall in the price of cabbage from $10.50 to $9.50 per bushel increases the quantity
demanded from 18,800 to 21,200 bushels. The price elasticity of demand is A. 1.20. B. 0.80. C. 8.00. D. 1.25.
13 If the price of the Walkman is below the equilibrium price, there will be a the price will A. surplus; fall B. shortage; rise C. shortage; fall D. surplus; rise
14 An indifference curve Đường bàng quan shows
A. affordable combinations of goods.
B. the relative price of one good relative to another.
C. consumption possibilities that a consumer faces at different prices and income.
D. different combinations of two goods among which the consumer is indifferent.
15 When price of the fixed input increases dẫn đến fix cost tăng
A. Average variable cost curve shifts up
B. Average total cost curve shifts down
C. Average total cost curve shifts up
D. Marginal cost curve shifts up
16 A perfectly competitive firm has average variable cost function as follow 𝐴𝑉𝐶 = 𝑄 + 1.
The firm's supply function is: A. 𝑃 = 2𝑄 + 1 B. 𝑃 = 𝑄 + 2
C. 𝑃 = 𝑄 + 1 . D. 𝑃 = 2𝑄 + 2
17 A competitive firm wants to maximize profit must A. Maximize total revenue B. Maximize unit profit C. Minimize total cost D. None of the above
18 Monopolist does not set highest price for its product because
A. Monopolist will not have maximum profit
B. Monopolist wants to maximize total revenue
C. Monopolist wants to maximize consumer's welfareD. Cost of
production is very low 19 When marginal revenue is negative: A. Price is negative B. Firm to shut down C. Firm to increase output
D. Demand is inelastic at that output
20 Kevin quit his $65,000 a year corporate lawyer job to open up his own law practice. In
Kevin's first year in business his total revenue equaled $150,000. Kevin's explicit cost
during the year totaled $85,000 Using the information from Kevin's first year in business, what is his economic profit? A. $0 B. $65,000 C. $20,000 D. $85,000 De so: 04
SECTION A: MULTIPLE CHOICE QUESTIONS
Choose ONLY ONE best answer for each of the following questions (0.25 mark/question) QUESTION 1
The production possibilities curve is bowed out from the origin.because:
A: of increasing opportunity cost.
B: economic resources are perfectly substitutable in the production of the two products C: of underemployment.
D: equal quantities of both products are produced at each possible point on the curve. QUESTION 2
The economising problem is essentially one of deciding how to make the best use of:
A: virtually unlimited resources, to satisfy virtually unlimited wants.
B: limited resources, to satisfy virtually unlimited wants.
C:unlimited resources, to satisfy limited wants
D: limited resources, to satisfy limited wants QUESTION 3
The construction of demand and supply curves assumes that the primary variable that
influences decisions to produce and purchase goods is: A: price. B: expectations C: preferences. D; incomes QUESTION 4
If the price of K declines, the demand curve for the complementary product J will: A. shift to the left. B. decrease. C. shift to the right. D. remain unchanged. QUESTION 5
If Vietnam Airlines increases its total revenue when it discounts its prices by 10% then
A. its passengers' demand is elastic
B. its passengers' demand is inelastic
C. it should continue to decrease its prices as demand elasticity for the service doesn't change
D. it means the provider must be a monopolist QUESTION 6
If X is a normal good, a rise in money income will shift the:
A: supply curve for X to the left.
B: supply curve for X to the right.
C: demand curve for X to the left.
D: demand curve for X to the right. QUESTION 7
If rice demand is inelastic, a good rice harvest will cause rice growers' revenue to:
A. increase because of the increase in the quantity that farmers can sell
B. remain unchanged, because the increase in the quantity that can be sold will be matched by an equal decrease in price
C. increase because of a downward movement along the supply curve, encouraging increasein demand
D. decrease because of a percentage fall in price greater than the percentage increase in an quantity sold QUESTION 8
The seller tax incidence would be higher if:
A: the price elasticity of demand is higer
B: the price elasticity of demand is lower
C: the price elasticity of demand is perfectly elastic D. None of the above QUESTION 9
Suppose that a firm's output increase from 910 to 1170 units when it increases its labour
input from 63 to 64 workers. The marginal product of the last worker is: A. 1070 B. 910 C. 260 D. 64 QUESTION 10
If marginal cost is falling and is lower than average total cost then
A. average total cost is falling
B. average total cost is constant
C. average total cost is rising
D. average total cost is at a minimum QUESTION 11
A firm will cease production in the short-run if it cannot:
A. cover its total costs at any level of output
B. cover its total fixed costs at any level of output
C. cover its total variable costs at any level of output
D. earn a normal profit at any level of output QUESTION 12
If a firm doubles its output in the long run and its unit costs of production decline, we can conclude that:
A: technological progress has occurred.
B : economies of scale are being realised
C: the firm is encountering diminishing returns.
D: diseconomies of scale are being encountered QUESTION 13
A firm in a competitive market is producing at the level of output that maximises profit. At this output level:
A. marginal revenue equals price
B. average revenue equals marginal cost
C. marginal revenue equals marginal cost D. all the above QUESTION 14
In a competitive market a Firm has output and total cost data as shown below: Output Total Cost S 0 2,000 10 3,000 20 4,000 30 4,500
What is the level of average variable cost when the Firm produces 20 units of output? A. $100 B. $200 C. $2,000D. $1,000. QUESTION 15
If the four-firm concentration ratio for industry X is 80, this means that:
A: the four largest firms account for 80% of total sales.
B: each of the four largest firms accounts for 20% of total sales.
C: the four largest firms account for 20% of total sales.
D: the industry is monopolistically competitive. QUESTION 16
Consider the following relationship between cost and output for a perfectly competitive firm: Total cost = $20 $30 $41 $54 Q = 3 4 5 66
If the market price of the firm's output is $12, how many units of output should the firm produce: A. 3 B. 4 C. 5 D. 6 QUESTION 17
Price will always be greater than marginal revenue for a monopolist because:
A. the firm faces a perfectly elastic demand curve
B. the demand curve is above the ATC curve
C. since no new firms can enter the market, the firm is not forced to lower price to increase quantity sold
D. the firm must lower price for all units sold in order to increase the quantity sold QUESTION 18
Mutual interdependence' means that each oligopolistic firm:
A: faces a perfectly elastic demand for its product.
B: must consider the reactions of its rivals when it determines its price policy.
C: produces a product identical to those of its rivals.
D: produces a product similar, but not identical, to the products of its rivals. QUESTION 19
Under monopolistic competition the differentiation of products implies that:
A. individual firms face downward sloping demand curve
B. both marginal cost and marginal revenue will increase as output increase
C. individual firms will make economic profit even in the long run
D. individual firms will produce at minimum average cost in the long run QUESTION 20
Which of the following is not characteristics of a purely competitive industry? A. a large number of sellers B. identical products
C. substantial barriers to entry D. relatively small firms