Test
AP Microeconomics quiz
Este test tiene tipos de pregunta que se abren en el reproductor de siempre.
Preguntas del test (10)
1The demand for school biology textbooks is inelastic. This happens because:
- AThe biology textbooks have substitutes
- BThey are a luxury good
- CThey are a necessity for biology class in school
- DThey are really expensive
2When the price of small dolls goes from 10$ to 12$, the quantity demanded decreases from 50 to 45. What is the price elasticity of demand?
- A-0.5
- B-2
- C2
- D-1
3Which of the following statements is false?
- AWhen elasticity is greater than 1 it is a luxury good
- BWhen elasticity is between 0-1 it is a normal necessity
- CWhen elasticity is perfectly inelastic it is horizontal on a graph
4Which of the following good is likely to have an inelastic demand?
- APepsi
- BWater
- CCoca Cola
- DChocolate
5If product A has an elasticity of 1 and product B has an elasticity of 3.1, what can you tell about these goods?
- AThey are complements
- BThey are substitutes
- CA is unit elastic and B is inelastic
- DA has less substitutes than B
6Which of the following is not a reason why price elasticity of supply changes?
- ASpare capacity
- BFlexibility of labor
- CChoice
- DTime
7If the cross price elasticity of demand is negative than the good is [blank_start]complementary.[blank_end]
- Acomplementary
8If you have an inelastic product you should [blank_start]increase[blank_end] the price of the good.
- Aincrease
9The mayor of Bogota wants to increase the taxes on cigarettes so they could raise more revenue. The mayor believe that cigarettes are [blank_start]inelastic[blank_end] products.
- Ainelastic
10The economic problem states that we have unlimited wants but we have limited resources.
- AVerdadero
- BFalso
Información
- Descripción
- AP micro semester exam review
- Autor
- 2016: Tatiana Se
- Idioma
- English
- Visitas
- 60
- Etiquetas
- Valoración
- Aún sin valoraciones Valora este test