AP (Advanced Placement) Microeconomics: Questions 363 - 365 of 398

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Question 363

Appeared in Year: 2020 (NET)

Question

MCQ▾

Absolute income hypothesis explains (September Evening Shift)

Choices

Choice (5)Response

a.

Consumer behavior

b.

Producer behavior

c.

Inflation

d.

Government expenditure

e.

All of the above

Question 364

Appeared in Year: 2020 (NET)

Question

Assertion-Reason▾

Assertion(Ꭺ)

The Rybczynski theorem postulates that at constant commodity prices, an increase in the endowment of one factor will increase by a greater proportion the output of the commodity, intensive in that factor and will reduce the output of the other commodity (September Evening Shift)

Reason(Ꭱ)

The Stopler-Samuelson theorem postulates that an increase in the relative price of a commodity (for example as a result of a tariff) decreases the return or earnings of the factor used intensively in the production of the commodity

Choices

Choice (5)Response

a.

Both Ꭺ and Ꭱ are true and Ꭱ is the correct explanation of Ꭺ

b.

Both Ꭺ and Ꭱ are true but Ꭱ is NOT the correct explanation of Ꭺ

c.

Ꭺ is true but Ꭱ is false

d.

Ꭺ is false but Ꭱ is true

e.

Both Ꭺ and Ꭱ are false

Question 365

Appeared in Year: 2020 (NET)

Question

Match List-Ⅰ List-Ⅱ▾

Match List I with List II (September Evening Shift)

List-Ⅰ (Economist)List-Ⅱ (Model)
(A)

Fellner

(i)

Kinked demand curve

(B)

Chamberlin

(ii)

Small group model

(C)

Sweezy

(iii)

Price leadership model

(D)

Stackelberg

(iv)

Reaction curves

Choices

Choice (5)Response
  • (A)
  • (B)
  • (C)
  • (D)

a.

  • (ii)
  • (i)
  • (iv)
  • (iii)

b.

  • (iii)
  • (ii)
  • (i)
  • (iv)

c.

  • (i)
  • (ii)
  • (iii)
  • (iv)

d.

  • (i)
  • (iv)
  • (ii)
  • (iii)

e.

All of the above

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