题目

If the price of coffee falls, which one of the following outcomes would be expected to occur?

A

A fall in the quantity of coffee demanded

B

A rise in the price of tea

C

A fall in the demand for drinking cups

D

A fall in the demand for tea

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Chapter4Microeconomicfactors

Rationale: Coffee and tea are substitute products. Thus, a fall in the price of coffee will result in higher demand for coffee and lower demand for its substitute product, tea. The price of tea might therefore fall. Demand for drinking cups is probably insufficiently related to the consumption of coffee to make them a complementary product to coffee. Even so, lower coffee prices would be likely to raise the demand for drinking cups rather than reduce it.

多做几道

Monetary policy is a government economic policy relating to:

1 Interest rates

2 Taxation

3 Public borrowing and spending

4 Exchange rates

Which of the above are correct?

A

1 and 4

B

 2 and 3

C

2 and 4

D

3 and 4

Which of the following organisations might benefit from a period of high price inflation?

A

An organisation which has a large number of long-term payables

B

An exporter of goods to a country with relatively low inflation

C

A large retailer with a high level of inventory on display and low rate of inventory turnover

Which of the following are the goals of macroeconomic policy?

1 Encouraging economic growth

2 Low unemployment

3 Achievement of a balance between exports and imports

4 Achieving zero inflation

A

1 and 2

B

2 and 3 

C

2, 3 and 4

D

1, 2 and 3

Which of the following is an example of cyclical unemployment?

A

The entry of school leavers into the labour pool each year

B

Lay-offs among agricultural labourers in winter

C

Automation of ticketing services in tourism

D

Recession in the building industry

A surplus on the balance of payments usually refers to a surplus or deficit on the account.Which word correctly complete this statement?

A

Current

B

Capital

C

Financial

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