4175712
Descripción
Test por 2016: Nicolas Di, actualizado hace más de 1 año
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Creado por 2016: Nicolas Di
hace casi 9 años
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Pregunta 1
Pregunta
What is the definition of an inferior good?
Respuesta
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Good that happens when demand falls an income rises; vice versa.
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Good that happens when demand increases and income increases as well; vice versa.
Pregunta 2
Pregunta
What type of goods are considered elastic goods?
Respuesta
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Normal luxuries and normal necessities
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Normal luxuries and superior goods
Pregunta 3
Pregunta
What is the formula for XeD?
Respuesta
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%change in qty demanded for product x/ %change in price for product y
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%change in qty demanded/ %change in income
Pregunta 4
Pregunta
What is the formula for PeD?
Respuesta
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%change in qty demanded/ %change in price
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%change in qty demanded/%change in income
Pregunta 5
Pregunta
What shifts PeS?
Respuesta
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Stocks, Capital labor, Capacity and Time
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Stocks, Capacity, Time and Chance
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Stocks, Interest Rates, Time and Chance
Pregunta 6
Pregunta
What does a complement represent?
Respuesta
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When the increase in demand of good A leads to the increase in demand of good B (If the demand for iphones increases, the demand for iphone cases will also increase).
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When good A substitutes good B (because price of good A increases, the demand for good B will increase).
Pregunta 7
Pregunta
What would be an inelastic good?
Respuesta
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Normal necessities
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Macbook Pro
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Tickets for a soccer match
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Short-distance flights
Pregunta 8
Pregunta
What does a rectangular hyperbole represent?
Respuesta
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Unit elasticity along the curve
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Price elasticity in supply
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Price elasticity in demand
Pregunta 9
Pregunta
What does it mean when you graph a line in a price elasticity graph, that starts in the y- axis?
Respuesta
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Inelastic
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Elastic
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Unit Elastic
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Perfectly inelastic
Pregunta 10
Pregunta
What kind of profit is a firm making when their ATC= their AR?
Respuesta
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Supernormal
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Abnormal
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