Exame Análise Económica 19 January 2021 PDF

29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Dashboard / My courses / 2021-2022 / 1° ciclo / Outono / Análise Económi-100007-202122-S1 / General / Exame_Análise Económica_19 01 2020 / Preview You can...

29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Dashboard / My courses / 2021-2022 / 1° ciclo / Outono / Análise Económi-100007-202122-S1 / General / Exame_Análise Económica_19 01 2020 / Preview You can preview this quiz, but if this were a real attempt, you would be blocked because: This quiz is not currently available Question 1 In a market economy, resources are allocated by Not yet answered Marked out of 0.50 Select one: a. the households that consume these goods and services. b. a central planner. c. those firms that use the resources to produce. d. the interaction between many firms and households in the market. e. I do not want to answer Question 2 A market fails when Not yet answered Marked out of 0.50 Select one: a. it fails to create a for space for consumers and producers to meet. b. I do not want to answer c. it fails to make everyone happy. d. it fails to promote policy effectiveness. e. it fails to produce an efficient allocation of resources. https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 1/14 29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Information Question 3 Considering the diagram that represents the Circular Flow of the economy, the letter A refers to: Not yet answered Marked out of 0.50 Select one: a. Revenue. b. Wages c. Spending d. Income e. I do not want to answer Question 4 Considering the diagram that represents the Circular Flow of the economy, the letter B refers to: Not yet answered Marked out of 0.50 Select one: a. Labor, land and capital. b. Goods and services bought. c. Goods and services sold. d. Factors of production. e. I do not want to answer https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 2/14 29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Information The following table shows the quantity of TV’s and Automobiles that can be produced in two different countries, A and B, during a day. TVs Automobiles Country A 1000 100 Country B 8000 2000 Question 5 With the information provided, we can say that, for Country A, Not yet answered Marked out of 0.50 Select one: a. the opportunity cost of an Automobile is o,01 TVs. b. I do not want to answer c. the opportunity cost of an Automobile is 10 TVs. d. the opportunity cost of a TVs is 10 Automobiles. e. the opportunity cost of a TV is 0,01 Automobiles. Question 6 Still considering the information regarding the production of TV’s and Automobiles in countries A and B, we can say that: Not yet answered Marked out of 0.50 Select one: a. Country A has an absolute advantage producing Automobiles. b. I do not want to answer c. Country A has an absolute advantage producing TVs. d. Country B has a comparative advantage producing TVs. e. Country A has a comparative advantage producing TVs. Question 7 Considering the demand and supply curves of a given market, if the income of the consumer increases, we will witness: Not yet answered Marked out of 0.50 Select one: a. an increase in the supply. b. an increase in the quantity demanded. c. an increase in the quantity supplied. d. an increase in the demand. e. I do not want to answer https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 3/14 29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Question 8 Considering the demand and supply curves of a given market, if the price of the product increases, we will witness: Not yet answered Marked out of 0.50 Select one: a. An increase in the demand. b. I do not want to answer c. An increase in the supply. d. An increase in the quantity demanded. e. An increase in the quantity supplied. Question 9 If a demand curve is perfectly inelastic, an increase in the supply Not yet answered Select one: Marked out of a. will increase the quantities that are being transacted. 0.50 b. will decrease the quantities that are being transacted. c. will increase the market price. d. will decrease the market price. e. I do not want to answer https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 4/14 29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Question 10 The following information relates the price and the quantity demanded of Computers during a given month: Not yet answered Price Quantity Marked out of €600 1000 1.00 €700 800 A. calculate the price elastic of demand. B. explain the meaning of value for price elastic of demand.           https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 5/14 29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Question 11 The following graphic presents a demand curve for TVs. Not yet answered Marked out of 0.50 If the market price in €80, the consumer surplus will be Select one: a. €700. b. €120. c. €200. d. €80. e. I do not want to answer Question 12 If the production of a good generates pollution, the market equilibrium generates quantity is: Not yet answered Marked out of 0.50 Select one: a. higher than the social optimum. b. doesn’t affect the social optimum. c. lower that social optimum. d. I do not want to answer e. the social optimum. Question 13 In a monopolistic competition market the products sold are Not yet answered Marked out of 0.50 Select one: a. unrelated. b. complements. c. differentiated. d. homogeneous. e. I do not want to answer https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 6/14 29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Information Refer to the graphic that represents the situation of one firm to answer the following questions Question 14 The firm is at an equilibrium for a quantity of Not yet answered Marked out of 0.50 Select one: a. 0. b. 20. c. 16. d. 10. e. I do not want to answer Question 15 For the equilibrium the fix costs are Not yet answered Marked out of 0.50 Select one: a. €160. b. €600. c. €80. d. I do not want to answer e. €150. https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 7/14 29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Question 16 The firm’s economic profit is Not yet answered Marked out of 0.50 Select one: a. €280. b. €80. c. €150. d. I do not want to answer e. €96. Question 17 In a competitive market, the market short run supply curve Not yet answered Marked out of 0.50 Select one: a. is the supply of a typical firm. b. is the sum of all individual supply curves. c. I do not want to answer d. is the supply of the largest firm. e. Is the sum of all individual demands. https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 8/14 29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Question 18 Taking into consideration the following graphic, explain why there is no economic profit in the long run in a competitive Not yet market. answered Marked out of 1.00           Initially the market is at a long run equilibrium (A) where all the (n) firms operating sell a quantity (q=Q/n) ate a price p1 that equals the AC (without economic profits). After the initial movement of the demand, from D1 to D2, the short run equilibrium (B) will allow firms that are in the market to benefit from economic profits. The existence of economic profits will stimulate the entrance of new firms (m firms) into the market moving the supply curve form S1 to S2. The final equilibrium (c), reestablish the initial price that is equal to the minimum AC. The firms that now operate in the market (n+m) are produce the initial quantity (q = Q3/(n+m)) at the initial price that equals AC, meaning that they will not benefit from economic profits. https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 9/14 29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Question 19 Which of the following is not included in GDP? Not yet answered Marked out of 0.50 Select one: a. unpaid cleaning and maintenance of houses b. production of foreign citizens living in the United States c. services such as those provided by lawyers and hair stylists d. the estimated rental value of owner-occupied housing e. I do not want to answer Question 20 The price index is 320 in one year and 360 in the next. What was the inflation rate? Not yet answered Select one: Marked out of a. 12.5 percent 0.50 b. 11.1 percent c. 8 percent d. I do not want to answer e. 6.7 percent Question 21 New products are invented every year. Consequently real GDP growth Not yet answered Marked out of 0.50 Select one: a. is rarely used. b. probably overestimates the rate of real economic growth. c. I do not want to answer d. probably underestimates the rate of real economic growth. e. probably accurately estimates the rate of real economic growth. Question 22 Productivity Not yet answered Marked out of 0.50 Select one: a. explains very little of the differences across countries in the standard of living. b. explains most of the differences across countries in the standard of living. c. explains some, but not most of the differences across countries in the standard of living. d. I do not want to answer e. is nearly the same across countries and so provides no help explaining differences across countries in the standard of living https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 10/14 29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Question 23 In a closed economy, national saving equals Not yet answered Marked out of 0.50 Select one: a. income minus the sum of consumption and government expenditures. b. I do not want to answer c. private saving plus public saving. d. All of the above are correct. e. investment. Question 24 What would happen in the market for loanable funds if the government were to increase the tax on interest income? Not yet answered Marked out of 0.50 Select one: a. The demand for loanable funds would shift left. b. The supply of loanable funds would shift left. c. The demand for loanable funds would shift right. d. The supply of loanable funds would shift right. e. I do not want to answer Question 25 Between 2001 and 2002, the country of Aquilonia reported an increase in the number of people who were employed. It Not yet also reported an increase in the unemployment rate. Which of the following would best explain the two reports? answered Marked out of 0.50 Select one: a. I do not want to answer b. The two reports are contradictory and can’t be reconciled. c. There was an increase in the size of the adult population between 2001 and 2002 d. There was an increase in the size of the labor force between 2001 and 2002. e. here was a decrease in the size of the labor force between 2001 and 2002. Question 26 The natural unemployment rate includes Not yet answered Marked out of 0.50 Select one: a. frictional, but not structural unemployment. b. I do not want to answer c. structural, but not frictional unemployment. d. neither frictional nor structural unemployment. e. both frictional and structural unemployment. https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 11/14 29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Question 27 As the reserve ratio increases, the money multiplier Not yet answered Marked out of 0.50 Select one: a. increases. b. does not change. c. could do any of the above. d. decreases. e. I do not want to answer Question 28 At one time, the country of Sylvania had no banks, but had currency of $10 million. Then a banking system was Not yet established with a reserve requirement of 20 percent. The people of Sylvania now keep half their money in the form of answered currency and half in the form of bank deposits. If banks do not hold excess reserves, how much currency do the people of Marked out of Sylvania now hold? 0.50 Select one: a. $9.09 million b. $2 million c. I do not want to answer d. $8.33 million e. $5 million Information Use the figure below for the following questions. Question 29 If the money supply is MS2 and the value of money is 2, Not yet answered Marked out of 0.50 Select one: a. the price level is higher than its equilibrium level. b. the value of money is less than its equilibrium level. c. the money supply is greater than money demand. d. I do not want to answer e. money demand is greater than the money supply. https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 12/14 29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Question 30 If the money supply is MS2 and the value of money is 2, there is excess Not yet answered Marked out of 0.50 Select one: a. supply equal to the distance between A and C. b. demand equal to the distance between A and B. c. supply equal to the distance between A and B. d. I do not want to answer e. demand equal to the distance between A and C. Question 31 When the money supply curve shifts from MS1 to MS2, Not yet answered Marked out of 0.50 Select one: a. the equilibrium price level increases. b. the equilibrium value of money increases. c. the economy's ability to produce goods and services increases. d. the demand for goods and services decreases. e. I do not want to answer Question 32 When the money supply curve shifts from MS1 to MS2, Not yet answered Select one: Marked out of a. the supply of money has decreased. 0.50 b. the demand for goods and services will decrease. c. the equilibrium price level decreases. d. I do not want to answer e. the equilibrium value of money decreases. Question 33 If the current money supply is located at MS1, Not yet answered Marked out of 0.50 Select one: a. there is no excess supply or excess demand if the value of money is 2. b. All of the above are correct. c. the equilibrium is at point C. d. there is an excess supply of money if the value of money is 1. e. I do not want to answer https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 13/14 29/01/22, 19:16 Exame_Análise Económica_19 01 2020 Question 34 Answer one of the following five questions with a short, but clear, essay. Not yet answered A) Explain the main argument in favor of economic stabilization. Marked out of B) Explain the time inconsistency of monetary policy. 2.50 C) Identify three of the five costs of inflation. D) Deficits do not necessarily burden future generations. Discuss and provide some examples. E) Why do many economists advocate a consumption tax rather than an income tax?           I'm answering question: ◄ Debates - Participants Jump to... Exam Grades ► https://elearning.novaims.unl.pt/mod/quiz/attempt.php?attempt=69596&cmid=42192 14/14