Fundamentals of Economic Theory (Answers to the Synergy
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Ready-made answers to the Fundamentals of Economic Theory test.
Educational institution: SYNERGY, MOI, MIT.
Change: fresh.
The result is 90-100 points.
Below you can find the questions on the Fundamentals of Economic Theory test.
QUESTIONS FOR THE TEST:
Questions for the Fundamentals of Economic Theory test:
1. Implementing a profit maximization strategy, the monopolist firm chooses the volume of output at which ... (where P is the price, MR is the marginal income, MC is the marginal cost)
MC = MR
P > MR
MC = P
P > MC
2. Market equilibrium means the situation in the market when …
the amount of supply is greater than the amount of demand
the amount of demand is greater than the amount of supply
the amount of demand is equal to the amount of supply
demand equals supply
3. In the short term, the financial result of a perfect competitor firm may be …
There may be a profit
There may be zero profit
There may be a loss
there can be profit and loss at the same time
4. Scarcity means the market situation when …
the amount of demand is greater than the amount of supply
demand is greater than supply
the amount of supply is greater than the amount of demand
supply is greater than demand
5. The political and economic Union implies …
creation of supranational governing bodies (parliament, army, etc.)
free movement of labor, capital and technology between countries
a common trade policy towards third countries
removing trade barriers between countries
6. Liabilities include …
funds raised
funds invested on behalf of and at the expense of the person making the investment
materials and semi-finished products necessary for the production of final products
finished products intended for consumption
7. The main macroeconomic problems of the society include …
maintaining competition and stable price levels
achieving sustainable economic growth and full employment
improving economic efficiency and living standards
fair distribution of income
reduction of employment
reduction of the minimum wage
8. The export quota is determined by the formula ... (where GDP is the gross domestic product)
Exports / GDP x 100 %
Imports / GDP x 100 %
Foreign trade volume / GDP x 100 %
The amount of public debt / GDP x 100 %
9. Public debt can be financed by …
additional issue of money
internal loans
external loans
the official refusal to repay it
10. Open inflation manifests itself in …
reducing the number of goods exported
an increase in the number of goods that can be bought with the same money as before inflation
price increases
falling prices
11. Unlike automatic fiscal policy, discretionary fiscal policy is ... the government´s attitude to the ongoing processes in the economy
passive
active
active-passive
dismissive
12. Inflation is divided into types based on factors such as …
speed and location of distribution
justice
balance
predictability
the nature of the flow
13. Assets include …
- materials and semi-finished products necessary for the production of final products
- funds invested on behalf of and at the expense of the person who makes the investment
- raised funds
14. The usefulness of a good is …
- the consumer´s judgment about the value of a thing
- the external manifestation of value
- the process of creating, modifying or restoring a good
- an internal, unchangeable property of a thing
15. Establish the correspondence between the forms of elasticity and the corresponding changes
- cross elasticity of demand - elasticity of demand for the price of two goods
- price elasticity of demand - a change in the amount of demand due to a change in the price of the product
- income elasticity of demand - change in demand due to changes in consumer income
- elasticity of the price offer - change in the value
Educational institution: SYNERGY, MOI, MIT.
Change: fresh.
The result is 90-100 points.
Below you can find the questions on the Fundamentals of Economic Theory test.
QUESTIONS FOR THE TEST:
Questions for the Fundamentals of Economic Theory test:
1. Implementing a profit maximization strategy, the monopolist firm chooses the volume of output at which ... (where P is the price, MR is the marginal income, MC is the marginal cost)
MC = MR
P > MR
MC = P
P > MC
2. Market equilibrium means the situation in the market when …
the amount of supply is greater than the amount of demand
the amount of demand is greater than the amount of supply
the amount of demand is equal to the amount of supply
demand equals supply
3. In the short term, the financial result of a perfect competitor firm may be …
There may be a profit
There may be zero profit
There may be a loss
there can be profit and loss at the same time
4. Scarcity means the market situation when …
the amount of demand is greater than the amount of supply
demand is greater than supply
the amount of supply is greater than the amount of demand
supply is greater than demand
5. The political and economic Union implies …
creation of supranational governing bodies (parliament, army, etc.)
free movement of labor, capital and technology between countries
a common trade policy towards third countries
removing trade barriers between countries
6. Liabilities include …
funds raised
funds invested on behalf of and at the expense of the person making the investment
materials and semi-finished products necessary for the production of final products
finished products intended for consumption
7. The main macroeconomic problems of the society include …
maintaining competition and stable price levels
achieving sustainable economic growth and full employment
improving economic efficiency and living standards
fair distribution of income
reduction of employment
reduction of the minimum wage
8. The export quota is determined by the formula ... (where GDP is the gross domestic product)
Exports / GDP x 100 %
Imports / GDP x 100 %
Foreign trade volume / GDP x 100 %
The amount of public debt / GDP x 100 %
9. Public debt can be financed by …
additional issue of money
internal loans
external loans
the official refusal to repay it
10. Open inflation manifests itself in …
reducing the number of goods exported
an increase in the number of goods that can be bought with the same money as before inflation
price increases
falling prices
11. Unlike automatic fiscal policy, discretionary fiscal policy is ... the government´s attitude to the ongoing processes in the economy
passive
active
active-passive
dismissive
12. Inflation is divided into types based on factors such as …
speed and location of distribution
justice
balance
predictability
the nature of the flow
13. Assets include …
- materials and semi-finished products necessary for the production of final products
- funds invested on behalf of and at the expense of the person who makes the investment
- raised funds
14. The usefulness of a good is …
- the consumer´s judgment about the value of a thing
- the external manifestation of value
- the process of creating, modifying or restoring a good
- an internal, unchangeable property of a thing
15. Establish the correspondence between the forms of elasticity and the corresponding changes
- cross elasticity of demand - elasticity of demand for the price of two goods
- price elasticity of demand - a change in the amount of demand due to a change in the price of the product
- income elasticity of demand - change in demand due to changes in consumer income
- elasticity of the price offer - change in the value
- multifactorial
- single- factor
- non-factorial
18 Establish the correspondence of concepts and their definitions
- macroeconomics - the economy of the state
- world economy - the economy of world economic relations
- microeconomics - economics of individual economic entities and markets
19. The labor force includes …
- minors and all working people
- working people and the unemployed
- pensioners and all working people
- only working people
20. The basic principles of the System of National Accounts (SNA) include …
- double recording of all operations
- calculation of all indicators for each year
- accounting exclusively for final products in monetary valuation
- state licensing of banking activities
21. The System of National Accounts (SNA) highlights such transactions as …
- distribution operations
- payments in the duty-free zone
- financial transactions
- transactions with goods and services
22. Restriction policy finds expression in …
- establishing friendly relations with other countries
- deterioration of the environmental situation in the country
- cooling the market conditions
- warming up the conjuncture
23. Establish the correspondence between factors of production and types of income:
- entrepreneurship - profit
- capital - interest
- land - rent
- labor - salary
24. The principles of taxation include
- informative and equidistant
- consistency and convenience
- voluntary nature of tax payment
- commitment and universality
25. State regulation of the economy is manifested in ...
reduction of employment
state entrepreneurship
reduction of the minimum wage
social policy
monetary and fiscal policy
state forecasting and planning
26. The intermediate segment on the aggregate supply curve is ...
a line with a negative slope
the long-term aggregate supply curve
a line with a positive slope
the short-term aggregate supply curve
27. The economic Union implies ...
a common trade policy towards third countries
free movement of labor, capital and technology between countries
removing trade barriers between countries
creation of supranational governing bodies (parliament, army, etc.)
28. Depreciation is a process...
transferring the value of an asset to the price of a product
gradual shutdown of production
calculating the useful life of an asset
tax policy mitigation
29. The company´s strategies in the market include …
minimizing costs
averaging tax rates
profit maximization
reducing dependence on foreign technology imports
30. Extensive economic growth is carried out by …
improving the use of existing production factors
the involvement of additional production factors in the production process
involving additional production factors in the production process and improving their use
removing used production factors from the production process without improving the use of the remaining ones
30. The elements that make up the tax system of any country include …
the payer of the tax and the tax rate
the object and source of taxation
the tax base
humanitarian assistance
31. Demand inflation means that price increases are due to …
reducing production costs
increase in production costs
reduction of aggregate demand
increase in aggregate demand
32. The foreign trade quota is determined by the formula ... (where GDP is the gross domestic product)
Exports / GDP x 100 %
Imports / GDP x 100 %
Foreign trade volume / GDP x 100 %
The amount of public debt / GDP x 100 %
33. Expansionist policy finds expression in …
cooling the market conditions
warming up the market
improving the environmental situation in the country
establishing friendly relations with other countries
34. If the increase in economic growth is due to factors of aggregate demand, then this is due to
- single- factor
- non-factorial
18 Establish the correspondence of concepts and their definitions
- macroeconomics - the economy of the state
- world economy - the economy of world economic relations
- microeconomics - economics of individual economic entities and markets
19. The labor force includes …
- minors and all working people
- working people and the unemployed
- pensioners and all working people
- only working people
20. The basic principles of the System of National Accounts (SNA) include …
- double recording of all operations
- calculation of all indicators for each year
- accounting exclusively for final products in monetary valuation
- state licensing of banking activities
21. The System of National Accounts (SNA) highlights such transactions as …
- distribution operations
- payments in the duty-free zone
- financial transactions
- transactions with goods and services
22. Restriction policy finds expression in …
- establishing friendly relations with other countries
- deterioration of the environmental situation in the country
- cooling the market conditions
- warming up the conjuncture
23. Establish the correspondence between factors of production and types of income:
- entrepreneurship - profit
- capital - interest
- land - rent
- labor - salary
24. The principles of taxation include
- informative and equidistant
- consistency and convenience
- voluntary nature of tax payment
- commitment and universality
25. State regulation of the economy is manifested in ...
reduction of employment
state entrepreneurship
reduction of the minimum wage
social policy
monetary and fiscal policy
state forecasting and planning
26. The intermediate segment on the aggregate supply curve is ...
a line with a negative slope
the long-term aggregate supply curve
a line with a positive slope
the short-term aggregate supply curve
27. The economic Union implies ...
a common trade policy towards third countries
free movement of labor, capital and technology between countries
removing trade barriers between countries
creation of supranational governing bodies (parliament, army, etc.)
28. Depreciation is a process...
transferring the value of an asset to the price of a product
gradual shutdown of production
calculating the useful life of an asset
tax policy mitigation
29. The company´s strategies in the market include …
minimizing costs
averaging tax rates
profit maximization
reducing dependence on foreign technology imports
30. Extensive economic growth is carried out by …
improving the use of existing production factors
the involvement of additional production factors in the production process
involving additional production factors in the production process and improving their use
removing used production factors from the production process without improving the use of the remaining ones
30. The elements that make up the tax system of any country include …
the payer of the tax and the tax rate
the object and source of taxation
the tax base
humanitarian assistance
31. Demand inflation means that price increases are due to …
reducing production costs
increase in production costs
reduction of aggregate demand
increase in aggregate demand
32. The foreign trade quota is determined by the formula ... (where GDP is the gross domestic product)
Exports / GDP x 100 %
Imports / GDP x 100 %
Foreign trade volume / GDP x 100 %
The amount of public debt / GDP x 100 %
33. Expansionist policy finds expression in …
cooling the market conditions
warming up the market
improving the environmental situation in the country
establishing friendly relations with other countries
34. If the increase in economic growth is due to factors of aggregate demand, then this is due to
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