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    Kuis mikroekonomika

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    Kuis mikroekonomika

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    6 views6 pages

    Kuis CH 8 9 10 2022

    Uploaded by

    khansaaa.mitriwp
    Kuis mikroekonomika

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 6
    Croce Udanyo. Oceovelle 6. US AIG / EK 29328 a Quiz 3~ Chapter 8, 9, and 10 TrueJFase Questions (@2 point) ~ Ifa good is an inferior good, then an increase in its price will increase the e) demand for it. aiworaye ayo income Cm) u Ivan spends his entire income on two goods. One of them is a Giffen good. If the price of the Giffen good rises, demand for the other good must fall. CTRUE’) Go webie Le Me Gove —norme! — . If the Engel curve slopes up, then the demand curve slopes down. (TRUE) . If a consumer is a buyer of some goods and a seller of others, then a change in prices will generate an extra income effect in the Slutsky equation due to the revaluation of the consumer’s endowment. (TRE) Vall CY gent / verter, lle —= de Hie Amy . If all goods, including leisure, are normal goods, then an increase in the ‘wage rate will necessarily make people want to work more hours. (FALSE) To tay out — lie T — nop J . Suppose a consumer is initially endowed with a positive amount of two goods, sells some of one to get more of the other, and has no other sources of income. Ifthe price of one good falls, his new budget line is everywhere (egy egy above his old budget ine. pvox '. If the real interest rate is positive, then a unit of future consumption can be had for the sacrifice of less than 1 unit of current consumption. crRUE) Gee pO eles . If apples today are perfect substitutes for bananas today, then appies today must also be perfect substitutes for bananas tomorrow. CASED If the interest rate is 5% and will be 5% forever, the present value of an income stream consisting of $10 a year paid to you on February 11 ofevery (qpuey year, starting right now, is $210. Se on ee Oe Ons Sere 10.]f the real interest rate is positive, then a unit of future consumption can be had for the sacrifice of less than 1 unit of current consumption. mee F (reve) tiple Choice (@4 point) ay 11.Cindy consumes goods x and y. Her demand for xis given by x(ps, ™m) = (0.05m —5.15p.. Now her income is $419, the price of x is $3, and the price of y is $1. If the price of x rises to $4 and if we denote the income effect on Dipindai dengan CamScanner ar © DI=~0'52 and DS = 0.59, Fass s psOs- 4. DI=OandDs= ©. None of the above. 12.Cindy consumes goods x and y. Her demand ooia settee Now her income is $322, the price of xis $2, andthe price of y is $1. If the price of x rises to $3 and if we denote the income effect on tes cemind for x by DI and the substitution effect on her demand for x by then ox oe DI=O and DS = 2.00. ges oe DI=~-0.18 and D: DI=~0.52 and DS = -0.52. DI=-0.18 and DS=-4.06, * * vies = - 424 None of the above. xo jbo 13.Walt considers x and y to be perfect substitutes. They originally cost $10 and $9 respectively. His income is $720. One day the price of ¥rops to $8. a. The income efféct increases the quantity of y by 90. b. The substitution effect increases the quantity of y by 80. >< The substitution effect increases the quantity of x by 90. a. e. for xis given by x(ps, m) = lo eet ure u i (ier exec ) ‘The income effect increases the quantity of x by 80. None of the above. 14.The following can be said about the income and substitution effects of a 4 price increase on the demand for a good whose price rose: perce a. The former is always positive and the latter is always negative. b. Both can be either positive or negative. X<__ While the latter is always negative, the former can be either positive or negative. d. While the former is always negative, the latter can be either positive or negative, e The former can at times be negative, but it will never overwhelm the latter. Gladys loves music and spends her money only on tapes and compact discs. She is always willing t 2 tapes for 1 compact discs. Originally, music iv Prteca tae Dipindai dengan CamScanner Ssmenes —a oly fs Offe ee compact diss fell to $8 each, The charge en 5 each. Then the price of The chi discs that resulted was Tange in her consumption of compact entirely due to the substitution effect. entirely due to the income effect. a Partly due to the income effect and partly due to the substitution effect. d. due to the income effect for low incomes and the substitution effect for high incomes. e. There was no change in her demand for compact discs. Complement. Ue min{a4y 16.Nick insists on cofisuming 3 times as much of y as he consumes of x (so he always has y = 3x). He will consume these goods in no othef ratio The price of x is 2 times the price of y. Nick has an endowment of 20 x’s and 75 y's \ which he can trade at the going prices. He has no other source of income. What is Nick’s gross demand for x? ¥—"' 9°? ade 4 93%y nie), anes dinond oh We cant Eetermine lane exeerancaieeerng heer 17.Donald consumes goods x and y. His utility function is U(x, y) = 29°. He is endowed with 10 units of x and 15 units of y. The price of x is $1 and the price of y is $2. Find his net demand for x. ay. 5! fw tS» Voleed. to gees ones! pK 0 1 4 . B gos dma: ev HO 2 16 clea 20, douea( fetes wis ssl ad 18.Milton consumes two commodities in a perfect market system. The price of x is $5 and the price of y is $1. His utility function is U(x, y) =.xy. He is endowed with 40 units of good x and no y. Find his consumption of good y. a 110 a BS eG ete ate 0, eC 10s Ww vaiue 50 100 e. None of the above. Dipindai dengan CamScanner ea) s in a perfect market system. The price of 8 utility funetion is UG, ) = xy. He is and no y. Find his consumption of good y. 19.Milton consumes two commoditi xis $4 and the price of y is $1. Hi: endowed with 76 units of good x a 76 b. 157 Wve 2 F674 to +: WH 152 ies ea e. None of the above. ee oy cane) : Seog (96.0 9 20.Georgina earns 6 dollars an hour. She has no nonlabor income. She has 100 hours a week available for either labor or leisure. Her utility function is U(c, 7) = cr, where c is dollars worth of goods and r is hours of leisure. How many hours per week will she work? & Mise 2 oe a] GX WO = 95 bord 16 1 of Wik « wo -93 298 ope Kr 21.Jackie’s net demands for x and y are (6, — 6) and her gross demands are (15, 15). What is her initial endowment of x? 1G bo QOS direc — Ww Nt dmmag Came a Pesto Tip: 7 Sorc 9 e. None of the above. w 69,2) 22 Irene earns 8 dollars an hour. She has no nonlabor income. She has 30 hours a week available for either labor or leisure. Her utility function is U(c, 7) = cP, where c is dollars worth of goods and ris hours of leisure. How many hours per week will she work? 2 a a 8 tie =30 ees $20 so oa ete go <> (0 bos of cork. 23.1f a consumer views a unit of consum| tion in period | as a perfect substitute (one for one) for a unit of consumption in period 2 and ifthe real interest Dipindai dengan CamScanner rate is positive, the consumer will a consume only inperiod1. 4, py 2 ut di Wee oo pe ah, PK consume only in period 2. 7 Motes tum, oper €. consume equal amounts in each period. consume more in period 1 than in period 2 if income elasticity exceeds 1, otherwise consume more in period 2 than in period 1. 7 equalize expenditures but not consumption in the two periods, If the real rate of interest is 8% and the nominal rate of interest is 28%, then he rate of inflation must be about Too tye eas eS wt) (28 | b. 24.26%. og = SA ae, cee oy 3.50%. S180 SS crear am 18.52%. , eS bs Oe ape Big oe RH = 0,10 SH (ane er? | Ne 2308 oor + es ae ee AUN, ¥ a 1es2 "Ze :If the reall rate of interest is 12% and the nominal rate of interest is 31%, then ‘the rate of inflation must be about. roa 1)>! o Be on bein eon a =. Ora an Od C, (2.58%. Cate ee vit LET “28 rH 16.96%. / Ry eR co? Ween ie a pense ee ee 26.Harvey Habit has a utility function U(c1, c2)=min{cy, c2}. If he had an income of $880 in period 1 and $1,320 in period 2 and if the interest rate were 0.20, how much would Harvey choose to spend on bread in period 1? a. $1,620 PPBBICE iy

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