AP (Advanced Placement) Macroeconomics: Questions 337 - 340 of 750

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Question 337

Appeared in Year: 2017 (NET)

Question

MCQ▾

The demand for rare paintings and rare stamps etc. is explained by which among the following effect? (January Paper-3)

Choices

Choice (5)Response

a.

Snob effect

b.

Veblen effect

c.

Bandwagon effect

d.

All of the above

e.

Question does not provide sufficient data or is vague

Question 338

Appeared in Year: 2017 (NET)

Question

MCQ▾

Given the following total cost and demand functions of a firm, find the price at which profits would be maximized:

Where C = Total cost

Q = Output

P = Price

(January Paper-3)

Choices

Choice (5)Response

a.

100

b.

5

c.

95

d.

85

e.

All of the above

Question 339

Appeared in Year: 2017 (NET)

Question

MCQ▾

The First Fundamental Theorem of Welfare Economics requires (January Paper-2)

Choices

Choice (5)Response

a.

That there be an efficient market for every commodity

b.

Producers and consumers to be price takers

c.

That the economy operates at some point on the utility possibility curve

d.

All a., b. and c. are correct

e.

Question does not provide sufficient data or is vague

Question 340

Appeared in Year: 2017 (NET)

Question

MCQ▾

According to Monetarists, demand for money function is (January Paper-3)

Choices

Choice (5)Response

a.

Constant and interest elastic

b.

Stable and interest inelastic

c.

Unstable and interest inelastic

d.

Stable and interest elastic

e.

All of the above

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