Name____________ Section________________

Final exam. December 2020

Direction: State your answer Yes if the statement is right and No if the statement is incorrect:

1. ___ Monopolistic competition are price takers.

2. ___ Product competition can be differed from each other I terms of either quality or of other
characteristic.
3. ____ Monopolistic competition characterizes an industry in which other products or services that are
Competitive industry.
4. ____Collusion group of firm acts to produce and price to be charge.
5. ____ advertising can be viewed as an instrument to adjusted increase monopoly power.
6. ____ Wages is the proceed receive for loan.
7.____ Wages are paid as various employee for services rendered
8. ____ Real wages adjusted for inflation or equivalent wages.
9.____ Nominal wages are currency derive from rendering services.
10. ___ One attribute of productivity large amount of capital
11. ___ another attribute of productivity poor implementation of monitoring.
12. ___ Monopsony is getting a large number of resources while paying at lower price.
13. ___ Perfect competition is a market share has no influences.
14. ___ Skills, Knowledge, individual saving and education can be considered as human capital.
15. ___ Union is a common interest of firm.
16. ___ Bilateral Monopoly means capitalists lower the wages but union demand t higher.
17. ___ Economic rent is the total revenue derive after deducting all cost.
18 ___ Total output refers to final product created by single group.
19. ___ Money can be utilized to produce goods and service.
20. ___ Poverty is the social status of individual by not having enough need.

II. Enumeration:
1-8 State the cause of Income Inequality
9-10 Bonus Merry Christmas to All