Fundamentals of economic theory Synergy answers.Test 87/100

Below are questions and answers for the test "Fundamentals of Economic Theory" with a score of 87/100 points and a "Good" rating.

1. The restrictive policy finds expression in... Answer: Restriction of import of goods and services.

2. Establish the correspondence between the concepts and their definitions: A. Microeconomics B. World Economy S. Macroeconomics D. State economy E. Economics of individual economic entities and markets F. Economics of world economic relations

Answer: A - studies the behavior of individual economic agents. B - studies economic processes occurring at the international level. C - studies the economy of a country or region as a whole. D - studies economic processes related to the activities of the state. E - studies economic processes associated with the activities of individual firms and markets. F - studies economic processes related to international trade and finance.

1. In the short run, the financial result of a perfect competitor firm may be... Answer: Both profit and loss.

2. The Laffer curve is used to estimate the volume of taxes collected depending on the amount... Answer: Tax rate.

3. Establish the correspondence between the concepts and their definitions: Percent Depreciation Rent income from the use of land properties restoration of the value of acquired land income from capital invested in land

Answer: Interest is the price for using capital. Depreciation is the gradual repayment of the cost of fixed assets for their wear and tear. Rent is income from the use of natural resources. Income from the use of land properties is the income received for the use of land resources. Restoring the value of acquired land is the process of restoring the value of land through natural wear and tear. Income from capital invested in land is the income received from the use of land for commercial purposes.

1. The System of National Accounts (SNA) distinguishes such transactions as... Answer: Production, income, income distribution and use of income.

2. The aggregate supply curve includes... Answer: The number of goods and services that producers are willing to offer on the market at various prices.

3. The customs union means... Answer: Free movement of goods and services between participating countries and a common trade policy.

4. The cost of a good is... Answer: The number of other goods that must be given in exchange for this good.

5. Establish a correspondence between the forms of elasticity and the corresponding changes: A. price elasticity of demand B. elasticity of demand by income C. Cross elasticity of demand D. price elasticity of supply E. Change in demand due to change in consumer income F. Change in the quantity supplied due to a change in the price of the product G. Change in the quantity demanded due to a change in the price of the product H. elasticity of demand at the price of two goods

Answer: A is the ratio of the percentage change in the quantity of a product to the percentage change in the price of the product. B is the ratio of the percentage change in the quantity of goods to the percentage change in consumer income. C is the ratio of the percentage change in demand for one product to the percentage change in the price of another product. D is the ratio of the percentage change in the quantity of a product that producers are willing to offer on the market to the percentage change in the price of the product. E is the ratio of the percentage change in the quantity of goods to the percentage change in consumer income. F is the ratio of the percentage change in the quantity of a product that producers are willing to offer on the market to the percentage change in the price of this product. G is the ratio of the percentage change in the quantity of a product to the percentage change in the price of a product. H is the ratio of the percentage change in demand for one product to the percentage change in the price of another product.

11. Assets include... Answer: All property that can generate income.

12. Depending on the duration, they distinguish... business cycles. Answer: Short term, medium term and long term.

13. The amount of differential rent depends on... Answer: The qualities of the land and its location.

14. External effects are... Answer: effects that are not taken into account by the market mechanism and affect third parties.

15. Intensive economic growth is being carried out... Answer: By increasing labor productivity and investing in new technologies.

16. Commodity surplus means a situation in the market when... Answer: The quantity supplied of a good exceeds the quantity demanded.

17. Changing the norms of required reserves involves... Answer: Change in the amount of funds that banks are required to keep at the central bank.

18. Unlike automatic fiscal policy, discretionary fiscal policy is... Answer: Purposeful government actions to regulate economic processes.

19. ?The expansionist policy finds expression in... Answer: Increasing government spending and lowering taxes.

20. Along with a freely functioning price mechanism, a condition for the full functioning of the market

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