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Sin título

jay.kim 10 preguntas

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Preguntas del test (10)

  1. 1If a fall in the price of good A increases the quantity demanded of good B,
    1. AA) A and B are substitutes
    2. BB) A and B are complements
    3. CC) B is a substitute for A, but A is a complement to B.
    4. DD) A is a substitute for B, but B is a complement to A.
  2. 2If goods A and B are complements,
    1. AA) the cross elasticity of demand between A and B is negative.
    2. BB) the cross elasticity of demand between A and B is positive.
    3. CC) their income elasticities of demand are both less than 1.
    4. DD) their income elasticities of demand are both greater than 1.
  3. 3A shift of the supply curve of oil raises the price from $10 a barrel to $30 a barrel and reduces the
    quantity demanded from 40 million to 23 million barrels a day. You can conclude that the
    1. AA) supply of oil is elastic.
    2. BB) supply of oil is inelastic.
    3. CC) demand for oil is inelastic.
    4. D D) demand for oil is elastic.
  4. 4 A 10 percent increase in income has caused a 5 percent decrease in the quantity demanded. The
    income elasticity is
    1. AA) 0.5
    2. B B) -2.0
    3. CC) 2.0
    4. DD) -0.5
  5. 5Suppose a rise in the price of peaches from $5.50 to $6.50 per bushel decreases the quantity
    demanded from 12,500 to 11,500 bushels. The price elasticity of demand is
    1. AA) 0.5
    2. B B) 1000.0
    3. CC) 2.0
    4. DD) 1.0
  6. 6Which elasticity does this graph have?Imagen de la pregunta 6
    1. AA) Unit elasticity
    2. BB) Perfectly Inelastic
    3. CC) Inelastic
    4. DD) Elastic
  7. 7The price increases from 0.50 to 1.50 and the quantity demand has also changes, the elasticity of this graph is -0.25.
    What is the percentage change in demand?    Imagen de la pregunta 7
    1. AA) +75%
    2. BB) -25%
    3. CC) -50%
    4. DD) -75%
  8. 8What is the formula to find the elasticity of Xed?
    1. AA) % change in demand of product A / % change in price of product A
    2. BB) % change in price of product B / % change in demand of product A
    3. CC) % change in demand of product B / % change in demand of A
    4. DD) % change in demand of product A / % change in demand of B
  9. 9 A fall in the price of X from $12 to $8 causes an increase in the quantity of Y demanded from 900 to
    1,100 units. X and Y are
    1. AA) complements
    2. BB) normal goods
    3. CC) substitutes
    4. DD) inferior goods
  10. 10 A 10 percent decrease in the price of a Pepsi decreases the demand for a Coca-Cola by 50 percent.
    The cross elasticity of demand between a Pepsi and Coca-Cola is
    1. AA) 5
    2. B B) 10
    3. C C) 0.20
    4. D D) 50

Información

Descripción
Test sobre Sin título, creado por jay.kim el 17/10/2014.
Autor
jay.kim
Idioma
English
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