4198301
Descripción
Test por 2016: Tatiana Se, actualizado hace más de 1 año
|
Creado por 2016: Tatiana Se
hace casi 9 años
|
|
Pregunta 1
Pregunta
The demand for school biology textbooks is inelastic. This happens because:
Respuesta
-
The biology textbooks have substitutes
-
They are a luxury good
-
They are a necessity for biology class in school
-
They are really expensive
Pregunta 2
Pregunta
When 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?
Respuesta
-
-0.5
-
-2
-
2
-
-1
Pregunta 3
Pregunta
Which of the following statements is false?
Respuesta
-
When elasticity is greater than 1 it is a luxury good
-
When elasticity is between 0-1 it is a normal necessity
-
When elasticity is perfectly inelastic it is horizontal on a graph
Pregunta 4
Pregunta
Which of the following good is likely to have an inelastic demand?
Respuesta
-
Pepsi
-
Water
-
Coca Cola
-
Chocolate
Pregunta 5
Pregunta
If product A has an elasticity of 1 and product B has an elasticity of 3.1, what can you tell about these goods?
Respuesta
-
They are complements
-
They are substitutes
-
A is unit elastic and B is inelastic
-
A has less substitutes than B
Pregunta 6
Pregunta
Which of the following is not a reason why price elasticity of supply changes?
Respuesta
-
Spare capacity
-
Flexibility of labor
-
Choice
-
Time
Pregunta 7
Pregunta
If the cross price elasticity of demand is negative than the good is [blank_start]complementary.[blank_end]
Respuesta
-
complementary
Pregunta 8
Pregunta
If you have an inelastic product you should [blank_start]increase[blank_end] the price of the good.
Respuesta
-
increase
Pregunta 9
Pregunta
The 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.
Respuesta
-
inelastic
Pregunta 10
Pregunta
The economic problem states that we have unlimited wants but we have limited resources.
Respuesta
- True
- False
¿Quieres crear tus propios Tests gratis con GoConqr? Más información.