Wednesday, November 25, 2009

Automata quiz fall 2009

=============================
QUIZ 1
=============================
Quiz Start Time: 06:37 AM
Time Left 19
sec(s)
Question # 1 of 10 ( Start time: 06:37:52 AM ) Total Marks: 1
While finding RE corresponding to TG, If TG has more than one final state then
Select correct option:
Introduce the new final state
Eliminate the old final state
Replace the old final state with start state
Replace the old final state with new start state
Quiz Start Time: 06:37 AM
Time Left 60
sec(s)
Question # 2 of 10 ( Start time: 06:39:16 AM ) Total Marks: 1
If two RE’s generate same language then these RE’s are called
Select correct option:
Same RE
Equal RE
Similar RE
Equivalent RE
Quiz Start Time: 06:37 AM
Time Left 28
sec(s)
Question # 3 of 10 ( Start time: 06:39:53 AM ) Total Marks: 1
Which of the following statement is NOT true?
Select correct option:
FA can be considered to be an NFA
FA can be considered to be an NFA with null string
NFA can be considered to be an TG
TG can be considered to be an NFA
Quiz Start Time: 06:37 AM
Time Left 82
sec(s)
Question # 4 of 10 ( Start time: 06:41:17 AM ) Total Marks: 1
Two FAs are said to be equivalent, if they
Select correct option:
accept null string
accept same language
accept different language
none of the given options
Quiz Start Time: 06:37 AM
Time Left 77
sec(s)
Question # 5 of 10 ( Start time: 06:41:34 AM ) Total Marks: 1
The language having even number of a’s and even number of b’s defined over S = {a, b}
is called
Select correct option:
EVEN-EVEN
ODD-ODD
PALINDROME
FACTORIAL
Quiz Start Time: 06:37 AM
Time Left 72
sec(s)
Question # 6 of 10 ( Start time: 06:41:54 AM ) Total Marks: 1
Is the language {a ab aba bab} regular?
Select correct option:
Yes
No
Quiz Start Time: 06:37 AM
Time Left 41
sec(s)
Question # 7 of 10 ( Start time: 06:42:18 AM ) Total Marks: 1
Let FA3 be an FA corresponding to FA1+FA2, then the initial state of FA3 must
correspond to the initial state of
Select correct option:
FA1 only
FA2 only
FA1 or FA2
FA1 and FA2
Quiz Start Time: 06:37 AM
Time Left 69
sec(s)
Question # 8 of 10 ( Start time: 06:43:21 AM ) Total Marks: 1
According to theory of automata there are _________ types of languages
Select correct option:
One
Two
Three
Four
Quiz Start Time: 06:37 AM
Time Left 32
sec(s)
Question # 9 of 10 ( Start time: 06:43:47 AM ) Total Marks: 1
What is false about the term alphabet?
Select correct option:
It is a finite set of symbols.
It is usually denoted by Greek letter sigma
It can be an empty set.
Strings are made up of its elements.
Quiz Start Time: 06:37 AM
Time Left 38
sec(s)
Question # 10 of 10 ( Start time: 06:44:54 AM ) Total Marks: 1
Every FA is a TG.
Select correct option:
True
False
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QUIZ 2
=============================
Quiz Start Time: 06:46 AM
Time Left 19
sec(s)
Question # 1 of 10 ( Start time: 06:46:26 AM ) Total Marks: 1
While finding RE corresponding to TG, we connect the new start state to the old start
state by the transition labeled by
Select correct option:
a
b
null string
None of the given options
Quiz Start Time: 06:46 AM
Time Left 84
sec(s)
Question # 2 of 10 ( Start time: 06:47:52 AM ) Total Marks: 1
What is false about the term alphabet?
Select correct option:
It is a finite set of symbols.
It is usually denoted by Greek letter sigma
It can be an empty set.
Strings are made up of its elements.
Quiz Start Time: 06:46 AM
Time Left 78
sec(s)
Question # 3 of 10 ( Start time: 06:48:05 AM ) Total Marks: 1
If S = {aa, bb}, then S* will not contain
Select correct option:
aabbaa
bbaabbbb
aaabbb
aabbbb
Quiz Start Time: 06:46 AM
Time Left 31
sec(s)
Question # 4 of 10 ( Start time: 06:48:28 AM ) Total Marks: 1
(a* + b*)* = (a + b)* this expression is __________
Select correct option:
True
False
Quiz Start Time: 06:46 AM
Time Left 84
sec(s)
Question # 5 of 10 ( Start time: 06:49:55 AM ) Total Marks: 1
Length of EVEN-EVEN language is _________
Select correct option:
Even
Odd
Sometimes even & sometimes odd
Such language doesn’t exist
Quiz Start Time: 06:46 AM
Time Left 21
sec(s)
Question # 6 of 10 ( Start time: 06:50:08 AM ) Total Marks: 1
What is false about the PALINDROME LANGUAGE?
Select correct option:
Every word is reverse of itself.
It is an infinite language.
FA can be build for it.
None of the given option
Quiz Start Time: 06:46 AM
Time Left 61
sec(s)
Question # 7 of 10 ( Start time: 06:51:33 AM ) Total Marks: 1
The states in which there is no way to leave after entry are called
Select correct option:
Davey John Lockers
Dead States
Waste Baskets
All of the given options
Quiz Start Time: 06:46 AM
Time Left 86
sec(s)
Question # 8 of 10 ( Start time: 06:52:09 AM ) Total Marks: 1
Automata is the plural of
Select correct option:
Automate
Automaton
Quiz Start Time: 06:46 AM
Time Left 78
sec(s)
Question # 9 of 10 ( Start time: 06:52:19 AM ) Total Marks: 1
If S = {a, b} then which of the following RE will generate all possible strings
Select correct option:
a* + b*
(ab)*
(a + b)*
(ab + ba)*
Quiz Start Time: 06:46 AM
Time Left 68
sec(s)
Question # 10 of 10 ( Start time: 06:52:39 AM ) Total Marks: 1
FA is also called
Select correct option:
TG
GTG
NFA
DFA
=============================
QUIZ 3
=============================
Quiz Start Time: 06:53 AM
Time Left 18
sec(s)
Question # 1 of 10 ( Start time: 06:53:40 AM ) Total Marks: 1
Every non deterministic Finite Automata can be converted into
Select correct option:
Regular Expression
Deterministic Finite Automata
Trasition Graph
All of the given options
Quiz Start Time: 06:53 AM
Time Left 81
sec(s)
Question # 2 of 10 ( Start time: 06:54:59 AM ) Total Marks: 1
What is false about the PALINDROME LANGUAGE?
Select correct option:
Every word is reverse of itself.
It is an infinite language.
FA can be build for it.
None of the given option
Quiz Start Time: 06:53 AM
Time Left 47
sec(s)
Question # 3 of 10 ( Start time: 06:56:26 AM ) Total Marks: 1
Let FA3 be an FA corresponding to FA1FA2, then the initial state of FA3 must
correspond to the initial state of
Select correct option:
FA1 only
FA2 only
FA1 or FA2
FA1 and FA2
Quiz Start Time: 06:53 AM
Time Left 86
sec(s)
Question # 4 of 10 ( Start time: 06:57:16 AM ) Total Marks: 1
The language having even number of a’s and even number of b’s defined over S = {a, b}
is called
Select correct option:
EVEN-EVEN
ODD-ODD
PALINDROME
FACTORIAL
Quiz Start Time: 06:53 AM
Time Left 4
sec(s)
Question # 7 of 10 ( Start time: 07:12:16 AM ) Total Marks: 1
FA corresponding to an NFA can be built by introducing an empty state for a letter
having
Select correct option:
no transition at certain state
one transition at certain state
two transition at certain state
more than two transitions at certain state
Quiz Start Time: 06:53 AM
Time Left 51
sec(s)
Question # 8 of 10 ( Start time: 07:13:45 AM ) Total Marks: 1
Closure of an FA, is same as ___________ of an FA with itself, except that the initial
state of the required FAis a final state as well.
Select correct option:
Union
Sum
Concatenation
Intersection
Quiz Start Time: 06:53 AM
Time Left 73
sec(s)
Question # 9 of 10 ( Start time: 07:14:27 AM ) Total Marks: 1
Which of the following statement is NOT true?
Select correct option:
FA can be considered to be an NFA
FA can be considered to be an NFA with null string
NFA can be considered to be an TG
TG can be considered to be an NFA
Quiz Start Time: 06:53 AM
Time Left 82
sec(s)
Question # 10 of 10 ( Start time: 07:14:46 AM ) Total Marks: 1
While finding RE corresponding to TG, we connect the new start state to the old start
state by the transition labeled by
Select correct option:
a
b
null string
None of the given options
=============================
QUIZ 4
=============================
Quiz Start Time: 07:16 AM
Time Left 24
sec(s)
Question # 1 of 10 ( Start time: 07:16:42 AM ) Total Marks: 1
FA corresponding to an NFA can be built by introducing a state corresponding to the
combination of states, for a letter having
Select correct option:
no transition at certain state
one transition at certain state
more than one transitions at certain state
none of the given options
Quiz Start Time: 07:16 AM
Time Left 72
sec(s)
Question # 2 of 10 ( Start time: 07:17:56 AM ) Total Marks: 1
Formal is also known as _________
Select correct option:
Syntactic language
Semantic language
Informal language
None of these
Quiz Start Time: 07:16 AM
Time Left 82
sec(s)
Question # 3 of 10 ( Start time: 07:18:18 AM ) Total Marks: 1
Every non deterministic Finite Automata can be converted into
Select correct option:
Regular Expression
Deterministic Finite Automata
Trasition Graph
All of the given options
Quiz Start Time: 07:16 AM
Time Left 50
sec(s)
Question # 4 of 10 ( Start time: 07:18:32 AM ) Total Marks: 1
Which of the following regular expression represents same language? a. (a+ab)* b.
(ba+a)* c. a*(aa*b)* d. (a*b*)*
Select correct option:
a and b
a and c
c and d
All of the given options
Quiz Start Time: 07:16 AM
Time Left 80
sec(s)
Question # 5 of 10 ( Start time: 07:19:49 AM ) Total Marks: 1
Does the empty string match the regular expression “y+a”?
Select correct option:
Yes
No
Quiz Start Time: 07:16 AM
Time Left 85
sec(s)
Question # 6 of 10 ( Start time: 07:20:07 AM ) Total Marks: 1
Let FA3 be an FA corresponding to FA1FA2, then the final state of FA3 must correspond
to the final state of
Select correct option:
FA1 only
FA2 only
FA1 or FA2
FA1 and FA2
Quiz Start Time: 07:16 AM
Time Left 39
sec(s)
Question # 7 of 10 ( Start time: 07:20:20 AM ) Total Marks: 1
What is false about the PALINDROME LANGUAGE?
Select correct option:
Every word is reverse of itself.
It is an infinite language.
FA can be build for it.
None of the given option
Quiz Start Time: 07:16 AM
Time Left 64
sec(s)
Question # 8 of 10 ( Start time: 07:21:35 AM ) Total Marks: 1
If R is a regular language and L is some language, and L U R is a regular language, then
L must be a regular language.
Select correct option:
True
False
Quiz Start Time: 07:16 AM
Time Left 64
sec(s)
Question # 9 of 10 ( Start time: 07:22:07 AM ) Total Marks: 1
Kleene star closure can be defined
Select correct option:
Over any set of string
Over specific type of string
Quiz Start Time: 07:16 AM
Time Left 78
sec(s)
Question # 10 of 10 ( Start time: 07:22:37 AM ) Total Marks: 1
If S = { x }, then S* will be
Select correct option:
{x,xx,xxx,xxxx,…}
{^ ,x,xx,xxx,xxxx,…}

Sunday, November 8, 2009

MCQ's for ECO401 - Economics

Goods X and Y are complements while goods X and Z are substitutes. If the supply of good X increases:
Select correct option:
The demand for both Y and Z will increase
The demand for Y will increase while the demand for Z will decrease
The demand for Y will decrease while the demand for Z will increase
The demand for both Y and Z will decrease


A normative economic statement:
Select correct option:
Is a statement of fact.
Is a hypothesis used to test economic theory.
Is a statement of what ought to be, not what is.
Is a statement of what will occur if certain assumptions are true.

when the price of petrol rises 10%, the quantity of petrol purchased falls by 8%. The demand for petrol is:
Select correct option:
Perfectly elastic
Unit elastic
Elastic
Inelastic

The law of diminishing marginal utility states:
Select correct option:
The supply curve slopes upward.
Your utility grows at a slower and slower rate as you consume more and more units of a good.
The elasticity of demand is infinite.
None of the given options.

Assume Leisure is a normal good. If income effect equals substitution effect then a wage rate increase will lead a person to:
Select correct option:
Increase hours of work
Decrease hours of work
Not change hours of work
None of the given options

The burden of a tax is shifted toward buyers if:
Select correct option:
Demand is perfectly elastic.
Demand is relatively more elastic than supply.
Demand is relatively more inelastic than supply.
Demand and supply have equal elasticities.

Assume that the government sets a ceiling on the interest rate that banks charge on loans. If the ceiling is set below the market equilibrium interest rate, the result will be:
Select correct option:
A surplus of credit.
A shortage of credit.
Greater profits for banks issuing credit.
A perfectly inelastic supply of credit in the market place.

You observe that the price of houses and the number of houses purchased both rise over the course of the year. You conclude that:
Select correct option:
The demand for houses has increased
The demand curve for houses must be upward-sloping
The supply of houses has increased
Housing construction costs must be decreasing

When drawing demand and supply curves, economists are assuming that the primary influence on production and purchasing decisions is:
Select correct option:
Price
Cost of production
The overall state of the economy
Consumer incomes

the ____________________ is a graph of the ____________________ of a good and the ____________________.
Select correct option:
Supply curve, price, quantity supplied
Demand curve, price, quantity supplied
Supply curve, price, quantity demanded
Supply curve, quantity supplied, income of consumers

Microeconomics is the branch of economics that deals with which of the following topics?
Select correct option:
The behavior of individual consumers
Unemployment and interest rates
The behavior of individual firms and investors
The behavior of individual consumers and behavior of individual firms and investors.

It is calculated as the percentage change in quantity demanded of a given good, with respect to the percentage change in the price of “another” good.
Select correct option:
Price elasticity of demand
Income elasticity of demand
rice elasticity of demandCross p
Supply price elasticity

The concept of a risk premium applies to a person that is:
Select correct option:
Risk averse
Risk neutral
Risk loving
All of the given options

Demand is elastic when the elasticity of demand is:
Select correct option:
Greater than 0
Greater than 1
Less than 1
Less than 0

A "Giffen good" is defined as one for which:
Select correct option:
Marginal utility is zero.
The demand curve is perfectly elastic.
The substitution effect is positive.
The demand curve is positively sloped.

Goods X and Y are complements while goods X and Z are substitutes. If the supply of good X increases:
Select correct option:
The demand for both Y and Z will increase
The demand for Y will increase while the demand for Z will decrease
The demand for Y will decrease while the demand for Z will increase
The demand for both Y and Z will decrease


A normative economic statement:
Select correct option:
Is a statement of fact.
Is a hypothesis used to test economic theory.
Is a statement of what ought to be, not what is.
Is a statement of what will occur if certain assumptions are true.

when the price of petrol rises 10%, the quantity of petrol purchased falls by 8%. The demand for petrol is:
Select correct option:
Perfectly elastic
Unit elastic
Elastic
Inelastic

The law of diminishing marginal utility states:
Select correct option:
The supply curve slopes upward.
Your utility grows at a slower and slower rate as you consume more and more units of a good.
The elasticity of demand is infinite.
None of the given options.

Assume Leisure is a normal good. If income effect equals substitution effect then a wage rate increase will lead a person to:
Select correct option:
Increase hours of work
Decrease hours of work
Not change hours of work
None of the given options

The burden of a tax is shifted toward buyers if:
Select correct option:
Demand is perfectly elastic.
Demand is relatively more elastic than supply.
Demand is relatively more inelastic than supply.
Demand and supply have equal elasticities.

Assume that the government sets a ceiling on the interest rate that banks charge on loans. If the ceiling is set below the market equilibrium interest rate, the result will be:
Select correct option:
A surplus of credit.
A shortage of credit.
Greater profits for banks issuing credit.
A perfectly inelastic supply of credit in the market place.

You observe that the price of houses and the number of houses purchased both rise over the course of the year. You conclude that:
Select correct option:
The demand for houses has increased
The demand curve for houses must be upward-sloping
The supply of houses has increased
Housing construction costs must be decreasing

When drawing demand and supply curves, economists are assuming that the primary influence on production and purchasing decisions is:
Select correct option:
Price
Cost of production
The overall state of the economy
Consumer incomes

the ____________________ is a graph of the ____________________ of a good and the ____________________.
Select correct option:
Supply curve, price, quantity supplied
Demand curve, price, quantity supplied
Supply curve, price, quantity demanded
Supply curve, quantity supplied, income of consumers

Microeconomics is the branch of economics that deals with which of the following topics?
Select correct option:
The behavior of individual consumers
Unemployment and interest rates
The behavior of individual firms and investors
The behavior of individual consumers and behavior of individual firms and investors.

It is calculated as the percentage change in quantity demanded of a given good, with respect to the percentage change in the price of “another” good.
Select correct option:
Price elasticity of demand
Income elasticity of demand
Cross price elasticity of demand
Supply price elasticity

The concept of a risk premium applies to a person that is:
Select correct option:
Risk averse
Risk neutral
Risk loving
All of the given options

Demand is elastic when the elasticity of demand is:
Select correct option:
Greater than 0
Greater than 1
Less than 1
Less than 0

A "Giffen good" is defined as one for which:
Select correct option:
Marginal utility is zero.
The demand curve is perfectly elastic.
The substitution effect is positive.
The demand curve is positively sloped.



If your demand price for one unit of a good is $100 and the market price is $75, your consumer's surplus is:
Select correct option:

$25
$50
$75
$100


Due to capacity constraints, the price elasticity of supply for most products is:
Select correct option:

The same in the long run and the short run.
Greater in the long run than in the short run.
Greater in the short run than in the long run.
Too uncertain to be estimated.


A schedule which shows the various amounts of a product consumers are willing and able to purchase at each price in a series of possible prices during a specified period of time is called:
Select correct option:

Supply
Demand
Quantity supplied
Quantity demanded


If the cost of computer components falls, then
Select correct option:

The demand curve for computers shifts to the right.
The demand curve for computers shifts to the left.
The supply curve for computers shifts to the right
The supply curve for computers shifts to the left


If a sales tax on beer leads to reduced tax revenue, this means:
Select correct option:

Elasticity of demand is <>
Elasticity of demand is > 1.
Demand is upward-sloping.
Demand is perfectly inelastic.


If there is a price ceiling, there will be:
Select correct option:

Shortages
Surpluses
Equilibrium
None of the given options.

The numerical measurement of a consumer’s preference is called:
Select correct option:

Satisfaction
Use
Pleasure
Utility

If a decrease in price increases total revenue:
Select correct option:

Demand is elastic
Demand is inelastic
Supply is elastic
Supply is inelastic


It is calculated as the percentage change in quantity demanded of a given good, with respect to the percentage change in the price of “another” good.
Select correct option:

Price elasticity of demand
Income elasticity of demand
Cross price elasticity of demand
Supply price elasticity


Assume Leisure is a normal good. If income effect equals substitution effect then a wage rate increase will lead a person to:
Select correct option:

Increase hours of work
Decrease hours of work
Not change hours of work
None of the given options

The price elasticity of supply shows us:
Select correct option:

How steep the supply curve is
How fast supply responds to price
How much supply shifts when income changes
How much quantity supplied responds to price changes

More output could be produced with available resources if:
Select correct option:

Resources are allocated efficiently
Resources are imperfectly shiftable among alternative uses
Prices are reduced
The economy is operating at a point inside the production possibilities curve.



The marginal rate of substitution is equal to the:
Select correct option:

Magnitude of the slope of the indifference curve
Relative price
Marginal cost of each good
Slope of the budget line

Marginal utility is best described as:
Select correct option:

The additional satisfaction gained by consumption of the last good
The per unit satisfaction of the good consumed
The total satisfaction gained from the total consumption of the good
The change in satisfaction from consuming one additional unit of the good

The short run, as economists use the phrase, is characterised by:
Select correct option:

All inputs being variable.
At least one fixed factor of production and firms neither leaving nor entering the industry.
No variable inputs - that is, all of the factors of production are fixed.
A period where the law of diminishing returns does not hold.

If marginal product is above the average product:
Select correct option:
The total product will fall
The average product will rise
Average variable costs will fall
Total revenue will fall

According the law of diminishing returns:
Select correct option:
The marginal product falls as more units of a variable factor are added to a fixed factor.
Marginal utility falls as more units of a product are consumed.
The total product falls as more units of a variable factor are added to a fixed factor.
The marginal product increases as more units of a variable factor are added to a fixed factor.

the substitution effect of a price decrease for a good with a normal indifference curve pattern:
Select correct option:
Is always inversely related to the price change.
Measures the change in consumption of the good that is due to the consumer’s feeling of being richer.
Is measured by the horizontal distance between the original and the new indifference curves.
Is sufficient information to plot an ordinary demand curve for the commodity being considered.

he ____________________ is a graph of the ____________________ of a good and the ____________________.
Select correct option:
Supply curve, price, quantity supplied
Demand curve, price, quantity supplied
Supply curve, price, quantity demanded
Supply curve, quantity supplied, income of consumers

When an industry's raw material costs increase, other things remaining the same:
Select correct option:
The supply curve shifts to the left.
The supply curve shifts to the right.
Output increases regardless of the market price and the supply curve shifts upward.
Output decreases and the market price also decrease.

in a free-market economy the allocation of resources is determined by:
Select correct option:
Votes taken by consumers
A central planning authority
By consumer preferences
The level of profits of firms

Moving from left to right, the typical production possibilities curve:
Select correct option:
Has a constant negative slope
Has a constant positive slope
Illustrates increasing opportunity costs
Illustrates decreasing opportunity costs

it is calculated as the percentage change in quantity demanded of a given good, with respect to the percentage change in the price of “another” good.
Select correct option:
Price elasticity of demand
Income elasticity of demand
Cross price elasticity of demand
Supply price elasticity

If your demand price for one unit of a good is $100 and the market price is $75, your consumer's surplus is:
Select correct option:
$25
$50
$75
$100

Average physical product is equal to:
Select correct option:
TPPF
TPPF/QF
QF / TPPF
TPPF * QF

A partial explanation for the inverse relationship between price and quantity demanded is that a:
Select correct option:
Lower price shifts the supply curve to the left
Higher price shifts the demand curve to the left
Lower price shifts the demand curve to the right
Higher price reduces the real incomes of buyers

Due to capacity constraints, the price elasticity of supply for most products is:
Select correct option:
The same in the long run and the short run.
Greater in the long run than in the short run.
Greater in the short run than in the long run.
Too uncertain to be estimated.

lthough there are many reasons why a market can be non-competitive, the principal economic difference between a competitive and a non-competitive market is:
Select correct option:
The number of firms in the market.
The extent to which any firm can influence the price of the product.
The size of the firms in the market.
The annual sales made by the largest firms in the market.

The law of diminishing marginal utility states:
Select correct option:
The supply curve slopes upward.
Your utility grows at a slower and slower rate as you consume more and more units of a good.
The elasticity of demand is infinite.
None of the given options.

If your demand price for one unit of a good is $100 and the market price is $75, your consumer's surplus is:
Select correct option:

$25
$50
$75
$100


Due to capacity constraints, the price elasticity of supply for most products is:
Select correct option:

The same in the long run and the short run.
Greater in the long run than in the short run.
Greater in the short run than in the long run.
Too uncertain to be estimated.


A schedule which shows the various amounts of a product consumers are willing and able to purchase at each price in a series of possible prices during a specified period of time is called:
Select correct option:

Supply
Demand
Quantity supplied
Quantity demanded

If the cost of computer components falls, then
Select correct option:

The demand curve for computers shifts to the right.
The demand curve for computers shifts to the left.
The supply curve for computers shifts to the right
The supply curve for computers shifts to the left



If a sales tax on beer leads to reduced tax revenue, this means:
Select correct option:

Elasticity of demand is < 1.
Elasticity of demand is > 1.
Demand is upward-sloping.
Demand is perfectly inelastic.


If there is a price ceiling, there will be:
Select correct option:

Shortages
Surpluses
Equilibrium
None of the given options.



The numerical measurement of a consumer’s preference is called:
Select correct option:

Satisfaction
Use
Pleasure
Utility

If a decrease in price increases total revenue:
Select correct option:

Demand is elastic
Demand is inelastic
Supply is elastic
Supply is inelastic




It is calculated as the percentage change in quantity demanded of a given good, with respect to the percentage change in the price of “another” good.
Select correct option:

Price elasticity of demand
Income elasticity of demand
Cross price elasticity of demand
Supply price elasticity

Assume Leisure is a normal good. If income effect equals substitution effect then a wage rate increase will lead a person to:
Select correct option:

Increase hours of work
Decrease hours of work
Not change hours of work
None of the given options


The price elasticity of supply shows us:
Select correct option:
How steep the supply curve is
How fast supply responds to price
How much supply shifts when income changes
How much quantity supplied responds to price changes


More output could be produced with available resources if:
Select correct option:

Resources are allocated efficiently
Resources are imperfectly shiftable among alternative uses
Prices are reduced
The economy is operating at a point inside the production possibilities curve.

The marginal rate of substitution is equal to the:
Select correct option:

Magnitude of the slope of the indifference curve
Relative price
Marginal cost of each good
Slope of the budget line


Marginal utility is best described as:
Select correct option:

The additional satisfaction gained by consumption of the last good
The per unit satisfaction of the good consumed
The total satisfaction gained from the total consumption of the good
The change in satisfaction from consuming one additional unit of the good

The short run, as economists use the phrase, is characterised by:
Select correct option:

All inputs being variable.
At least one fixed factor of production and firms neither leaving nor entering the industry.
No variable inputs - that is, all of the factors of production are fixed.
A period where the law of diminishing returns does not hold.

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Saturday, November 7, 2009

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Vuhelps

Vuhelp.com/forum taturial

Dear fellow, Now vuhelp team got a forum and full website. Which help stuents. There you may contact us and discuss study related work with your friends. we are showing you a tutorial for joining the forum. So take a look and its very easy.





Regards www.vuhelp.com/forum

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