MCQ QUESTIONS
JUST NEED THE ANSWERS WITHOUT EXPLANATION FOR REFERENCE PURPOSE.
1. In the circular-flow diagram, in the markets for
A. goods and services, households and firms are both sellers.
B. goods and services, households are sellers and firms are buyers.
C. the factors of production, households are sellers and firms are buyers.
D. the factors of production, households and firms are both buyers.
Mid T1 20-21 (Q).pdf - Adobe Acrobat Reader DC X File Edit View Window Help Home Tools Mid T1 20-21 (Q).p... x (? Sign In Q 1 16 O + 117% 9 0 B. goods and services, households are sellers and firms are buyers. A C. the factors of production, households are sellers and firms are buyers. Export PDF D. the factors of production, households and firms are both buyers. Figure 1 Adobe Export PDF Convert PDF Files to Word or Excel Online ovens Select PDF File K Mid T1 20-21 (Q).pdf X PL Convert to M Microsoft Word (*.docx) v Document Language: N English (U.S.) Change pans 2. Refer to Figure 1. This economy has the ability to produce at which point(s)? Convert A. J, K, M. N B. K. M, N Create PDF C. K, N D. M Store and share files in the Document Cloud Continued... Learn More 9 W - () TO al ENG 8:30 AM 18/8/2020Mid T1 20-21 (Q).pdf - Adobe Acrobat Reader DC X File Edit View Window Help Home Tools Mid T1 20-21 (Q).p... x (? Sign In Q 2 1 6 (+ 117% 9 0 A Export PDF Adobe Export PDF Figure 2 Convert PDF Files to Word or Excel Online capital Select PDF File goods Mid T1 20-21 (Q).pdf X Convert to Microsoft Word (*.docx) v Document Language: English (U.S.) Change B consumer goods Convert 3. Refer to Figure 2. Which of the following would most likely have caused the production possibilities frontier to shift outward from A to B? Create PDF A. A decrease in unemployment. B. A technological advance in the consumer goods industries. Store and share files in the C. A general technological advance. Document Cloud D. An increase in the availability of capital-producing resources. Learn More O W - () TO | al ENG 8:31 AM 18/8/2020Mid T1 20-21 (Q).pdf - Adobe Acrobat Reader DC X File Edit View Window Help Home Tools Mid T1 20-21 (Q).p... x (? Sign In Q 5 16 (+ 117% 9 0 A Export PDF Adobe Export PDF Section X Section Y Convert PDF Files to Word Ice Lemon Ice Lemon or Excel Online Select PDF File Mid T1 20-21 (Q).pdf X B C Convert to A Microsoft Word (*.docx) v Document Language: Apple Pie Apple Pie English (U.S.) Change 19. Refer to Figure 3. A change of income is demonstrated in A. Section X. Convert B. Section Y. C. Section X and Y. D. None of the above. Create PDF Store and share files in the 20. Suppose Tan's consumption bundle is made up of 2 goods, curtain and pillow. If the price Document Cloud of a piece of curtain increases, then Tan's budget line would Learn More O W - () TO P al ENG 8:33 AM 18/8/2020Mid T1 20-21 (Q).pdf - Adobe Acrobat Reader DC X File Edit View Window Help Home Tools Mid T1 20-21 (Q).p... x (? Sign In Q 6 16 + 117% 9 0 A b. Based on your answer in part (a), if the demand for wheat is elastic, what would happen to Export PDF the wheat farmers' total revenue? Explain. (3 marks) Adobe Export PDF Convert PDF Files to Word Table 1 or Excel Online Select PDF File Price Quantity Mid T1 20-21 (Q).pdf X (RM) 100 0 Convert to 80 10 Microsoft Word (*.docx) v 60 20 40 30 Document Language: 20 40 English (U.S.) Change 0 50 c. Refer to Table 1. Using the midpoint method, if the price falls from RM80 to RM60, Convert (i) calculate the price elasticity of demand. Show the formula and all your calculation. (4 marks) Create PDF (ii) using the absolute value, determine the type of elasticity. (1 mark) Store and share files in the Document Cloud (Total: 14 marks) Learn More 9 O W - () TO al ENG 8:34 AM 18/8/2020
