Question 1

The difference between the present level of income and the past level of income:

Accepted Answer

A) saving 
B) consumption 
C) investment 
D) none 
A) saving 
B) consumption 
C) investment 
D) none C

Question 2

The relation of Price and quantity demanded:

Accepted Answer

A) negative 
B) positive 
C) no relation 
D) none 
A) negative 
B) positive 
C) no relation 
D) none B

Question 3

The relationship between income and consumption:

Accepted Answer

A) consumption 
B) saving 
C) investment 
D) none 
A) consumption 
B) saving 
C) investment 
D) none A

Question 4

The addition to total cost:

Accepted Answer

A) mc 
B) ac 
C) tc 
D) none 
A) mc 
B) ac 
C) tc 
D) none

Question 5

Given the utility function U = 5x²+12x, find Marginal utility:

Accepted Answer

A) 5+12 
B) 10x+12 
C) 12x 10 
D) 10x +12x 
A) 5+12 
B) 10x+12 
C) 12x 10 
D) 10x +12x

Question 6

The relationship between the price of the commodity and quantity of the commodity supplied:

Accepted Answer

A) demand 
B) equilibrium 
C) supply 
D) none 
A) demand 
B) equilibrium 
C) supply 
D) none

Question 7

Consumption function is given C = 35 + .4 Yd , find MPC:

Accepted Answer

A) .4 
B) .6 
C) .8 
D) .7 
A) .4 
B) .6 
C) .8 
D) .7

Question 8

An identity between two alternative:

Accepted Answer

A) behavioral 
B) definitional 
C) conditional 
D) none 
A) behavioral 
B) definitional 
C) conditional 
D) none

Question 9

The difference between total revenue and the total Cost:

Accepted Answer

A) cost 
B) income 
C) profit 
D) revenue 
A) cost 
B) income 
C) profit 
D) revenue

Question 10

The proportionate change in quantity demanded and the proportionate change in price is:

Accepted Answer

A) price elasticity 
B) income elasticity 
C) cross elasticity 
D) none 
A) price elasticity 
B) income elasticity 
C) cross elasticity 
D) none

Question 11

The first derivative of the consumption function is:

Accepted Answer

A) marginal revenue 
B) marginal cost 
C) marginal propensity to consume 
D) none 
A) marginal revenue 
B) marginal cost 
C) marginal propensity to consume 
D) none

Question 12

The relationship between quantity demanded of a good and level of consumer's income:

Accepted Answer

A) engel function 
B) consumption function 
C) saving function 
D) none 
A) engel function 
B) consumption function 
C) saving function 
D) none

Question 13

The ratio of the proportionate change in the quantity purchased of a good to the proportionate change in income:

Accepted Answer

A) price elasticity 
B) income elasticity 
C) cross elasticity 
D) none 
A) price elasticity 
B) income elasticity 
C) cross elasticity 
D) none

Question 14

MPS + MPC =?

Accepted Answer

A) 2 
B) 0 
C) 1 
D) 3 
A) 2 
B) 0 
C) 1 
D) 3

Question 15

Marginal rate of technical substitution is equal to:

Accepted Answer

A) mux/muy 
B) mpl/mpk 
C) mrsxy/mrs 
D) mrx/mry 
A) mux/muy 
B) mpl/mpk 
C) mrsxy/mrs 
D) mrx/mry

Question 16

The measurement of economic data:

Accepted Answer

A) mathematical 
B) econometrics 
C) business 
D) statistics 
A) mathematical 
B) econometrics 
C) business 
D) statistics

Question 17

The proportionate change in quantity demanded by a good due to proportionate change in the price of the other good:

Accepted Answer

A) price elasticity 
B) income elasticity 
C) cross elasticity 
D) demand elasticity 
A) price elasticity 
B) income elasticity 
C) cross elasticity 
D) demand elasticity

Question 18

Revenue function TR = 22x²+14, find Marginal revenue?

Accepted Answer

A) 44x 
B) 40x 
C) 22x 
D) 54x 
A) 44x 
B) 40x 
C) 22x 
D) 54x

Question 19

An increase in income lead to the increase in quantity demanded of the good:

Accepted Answer

A) negative good 
B) positive good 
C) superior good 
D) normal good 
A) negative good 
B) positive good 
C) superior good 
D) normal good

Question 20

The first order derivative of Total Utility:

Accepted Answer

A) mu 
B) tu 
C) au 
D) none 
A) mu 
B) tu 
C) au 
D) none

The difference between the present level of income and the past level of income:

The relation of Price and quantity demanded:

The relationship between income and consumption:

The addition to total cost:

Given the utility function U = 5x²+12x, find Marginal utility:

The relationship between the price of the commodity and quantity of the commodity supplied:

Consumption function is given C = 35 + .4 Yd , find MPC:

An identity between two alternative:

The difference between total revenue and the total Cost:

The proportionate change in quantity demanded and the proportionate change in price is:

The first derivative of the consumption function is:

The relationship between quantity demanded of a good and level of consumer's income:

The ratio of the proportionate change in the quantity purchased of a good to the proportionate change in income:

MPS + MPC =?

Marginal rate of technical substitution is equal to:

The measurement of economic data:

The proportionate change in quantity demanded by a good due to proportionate change in the price of the other good:

Revenue function TR = 22x²+14, find Marginal revenue?

An increase in income lead to the increase in quantity demanded of the good:

The first order derivative of Total Utility:

Econometrics and Factors of Production

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Exam 1: Economics Terminologies and Concepts

The difference between the present level of income and the past level of income:

The relation of Price and quantity demanded:

The relationship between income and consumption:

The addition to total cost:

Given the utility function U = 5x²+12x, find Marginal utility:

The relationship between the price of the commodity and quantity of the commodity supplied:

Consumption function is given C = 35 + .4 Yd , find MPC:

An identity between two alternative:

The difference between total revenue and the total Cost:

The proportionate change in quantity demanded and the proportionate change in price is:

The first derivative of the consumption function is:

The relationship between quantity demanded of a good and level of consumer's income:

The ratio of the proportionate change in the quantity purchased of a good to the proportionate change in income:

MPS + MPC =?

Marginal rate of technical substitution is equal to:

The measurement of economic data:

The proportionate change in quantity demanded by a good due to proportionate change in the price of the other good:

Revenue function TR = 22x²+14, find Marginal revenue?

An increase in income lead to the increase in quantity demanded of the good:

The first order derivative of Total Utility:

Econometrics and Factors of Production

Filters