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Managerial Economics.m

Managerial Economics.m

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52 вопроса Вариант 1 Доступ 7 дней
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Вопросы и варианты

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Вопрос 1

Demand is determined by

  1. Price of the product
  2. Relative prices of other goods
  3. Tastes and habits
  4. All of the above
Вопрос 2

When a firm’s average revenue is equal to its average cost, it gets … .

  1. Super profit
  2. Normal profit
  3. Sub normal profit
Вопрос 3

Managerial economics generally refers to the integration of economic theory with business

  1. Ethics
  2. Management
  3. Practice
Вопрос 4

Given the price, if the cost of production increases because of higher price of raw materials, the supply

  1. Decreases
  2. Increases
  3. Remains same
Вопрос 5

The cost recorded in the books of accounts are considered as

  1. Total cost
  2. Marginal cost
  3. Average cost
  4. Explicit cost
Вопрос 6

A Joint Stock Company is managed by the Board of Directors elected by … .

  1. Top management
  2. Shareholders
  3. Employees of company
Вопрос 7

Under … , price is determined by the interaction of total demand and total supply in the market.

  1. Perfect competition
  2. Monopoly
  3. Imperfect competition
Вопрос 8

Under perfect competition, price is determined by the interaction of total demand and … .

  1. Total supply
  2. Total cost
  3. Total utility
  4. Total production
Вопрос 9

The out of pocket costs are … .

  1. Sunk costs
  2. Marginal costs
  3. Explicit costs
  4. Social costs
Вопрос 10

The short run Average Cost curve is … shaped

  1. V
  2. U
  3. L
  4. Any of the above
Вопрос 11

Managerial Economics is basically a blend of … .

  1. Economics and Management
  2. Economics and Finance
  3. Economics and marketing
  4. Economics and mathematics
Вопрос 12

Micro Economics is the study of the … .

  1. Pattern
  2. Society
  3. Human
  4. Behaviour
Вопрос 13

This economic environment is nothing but the … elements.

  1. Managerial economics
  2. Micro economics
  3. Macro economics
  4. Financial economics
Вопрос 14

If a manager wants to … the price of the product due to increase in cost of production, he will analyze the price elasticity of demand for that product.

  1. Decrease
  2. Increase
  3. Multiply
  4. Constant
Вопрос 15

… and benefit analysis helps the manager in decision making.

  1. Cost
  2. Revenue
  3. Profit
  4. Loss
Вопрос 16

Study of … helps Manager in taking care of social responsibilities of the organization.

  1. Welfare economics
  2. Micro economics
  3. Macro economics
  4. Financial economics
Вопрос 17

If there are no sacrifices, there is no … .

  1. Cost
  2. Revenue
  3. Profit
  4. Loss
Вопрос 18

Goods produced on small scale have

  1. Relatively inelastic supply
  2. Highly elastic supply
  3. Perfectly elastic supply
  4. None of the above
Вопрос 19

Oligopoly is a type of … market. A … exists in the industry

  1. Perfect, few firms
  2. Imperfect, few firms
  3. Perfect, many firms
  4. Imperfect, many firms
Вопрос 20

The management of the … form of business organization is totalitarian in nature.

  1. Cooperative
  2. Partnership
  3. Individual proprietorship
Вопрос 21

The demand curve has a … slope.

  1. Undefined
  2. Zero c
  3. Negative
  4. Positive
Вопрос 22

The higher the interest rate:

  1. The greater the present value of a future amount
  2. The smaller the present value of a future amount
  3. The greater the level of inflation
  4. None of the statements associated with this question are correct
Вопрос 23

If the interest rate is 10% and cash flows are $1,000 at the end of year one and $2,000 at the end of year two, then the present value of these cash flows is

  1. $2,562
  2. $3,200
  3. $439
  4. $3,000
Вопрос 24

Accounting profits are:

  1. Total revenue minus total cost
  2. Total cost minus total revenue
  3. Marginal revenue minus total cost
  4. Total revenue minus marginal cost
Вопрос 25

Economic profits are:

  1. Total revenue minus total cost
  2. Marginal revenue minus marginal cost
  3. Total revenue minus total opportunity cost
  4. Total profits of the economy as a whole
Вопрос 26

Which of the following is an implicit cost to a firm that produces a good or service?

  1. Labor costs
  2. Costs of operating production machinery
  3. Foregone profits of producing a different good or service
  4. Costs of renting or buying land for a production site
Вопрос 27

Which of the following is an implicit cost of going to college?

  1. Tuition
  2. Cost of books and supplies
  3. Room and board
  4. Foregone wages
Вопрос 28

Which of the following signals to the owners of scarce resources are the best uses of those resources?

  1. Profits of businesses
  2. Government regulations
  3. Economic indicators
  4. The accounting cost of those resources
Вопрос 29

The primary inducement for new firms to enter an industry is:

  1. Increased technology
  2. Availability of labor
  3. Low capital costs
  4. Presence of economic profits
Вопрос 30

As more firms enter an industry

  1. Accounting profits increase
  2. Economic profits decrease
  3. Prices rise
  4. None of the statements associated with this question are correct
Вопрос 31

Scarce resources are ultimately allocated toward the production of goods most wanted by society because:

  1. Firms attempt to maximize profits
  2. They are most efficiently utilized in these areas
  3. Consumers demand inexpensive goods and services
  4. Managers are benevolent
Вопрос 32

The opportunity cost of receiving ten dollars in the future as opposed to getting that ten dollars today is:

  1. The foregone interest that could be earned if you had the money today
  2. The taxes paid on any earnings
  3. The value of $10 relative to the total income of that person
  4. The value of $10 relative to the total income of all persons
Вопрос 33

If the interest rate is 5%, what is the present value of ten dollars received one year from now?

  1. $9.50
  2. $9.52
  3. 77
Вопрос 34

If you put $1,000 in a savings account at an interest rate of 10%, how much money will you have in one year?

  1. $1,200
  2. $909
  3. $950
  4. $1,100
Вопрос 35

If the interest rate is five percent, the present value of $200 received at the end of five years is:

  1. $121.34
  2. $156.71
  3. $176.41
  4. $132.62
Вопрос 36

When dealing with present value, a higher interest rate:

  1. Does not effect the present value of the future amount
  2. Increases the present value of a future amount
  3. Decreases the present value of a future amount
  4. None of the statements associated with this question are correct
Вопрос 37

When dealing with present value, a higher interest rate:

  1. Does not effect the present value of the future amount
  2. Increases the present value of a future amount
  3. Decreases the present value of a future amount
  4. None of the statements associated with this question are correct
Вопрос 38

A farm must decide whether or not to purchase a new tractor. The tractor will reduce costs by $2,000 in the first year, $2,500 in the second and $3,000 in the third and final year of usefulness. The tractor costs $9,000 today, while the above cost savings will be realized at the end of each year. If the interest rate is seven percent, what is the net present value of purchasing the tractor?

  1. $6,764
  2. $9,362
  3. $18,362
  4. None of the statements associated with this question are correct
Вопрос 39

A firm will have constant profits of $100,000 per year for the next four years and the interest rate is six percent. Assuming these profits are realized at the end of each year, what is the present value these future profits?

  1. $325,816
  2. $376,741
  3. $400,000
  4. $346,511
Вопрос 40

A firm will maximize the present value of future profits by maximizing current profits when the:

  1. Growth rate in profits is constant
  2. Growth rate in profits is larger than the interest rate
  3. Interest rate is larger than the growth rate in profits and both are constant
  4. Growth rate and interest rate are constant and equal
Вопрос 41

Suppose the interest rate is five percent, the expected growth rate of the firm is two percent, and the firm is expected to continue forever. If current profits are $1,000, what is the value of the firm?

  1. $31,000
  2. $30,000
  3. $26,500
  4. $35,000
Вопрос 42

To maximize profits, a firm should continue to increase production of a good until:

  1. Total revenue equal total cost
  2. Profits are zero
  3. Marginal revenue equals marginal cost
  4. Average cost equals average revenue
Вопрос 43

The additional benefits that arise by using an additional unit of the managerial control variable is defined as the:

  1. Total benefit
  2. Opportunity cost
  3. Marginal benefit
  4. Present value of benefits
Вопрос 44

The additional cost incurred by using an additional unit of the managerial control variable is defined as the:

  1. Total cost
  2. Net cost
  3. Net benefit
  4. Marginal cost
Вопрос 45

The change in net benefits that arise from a one unit change in quantity is the:

  1. Marginal net benefits
  2. Total net benefits
  3. Variable benefits
  4. Present value benefits
Вопрос 46

The difference between marginal benefits and marginal costs are the:

  1. Profits
  2. Marginal net benefits
  3. Opportunity cost
  4. Accounting
Вопрос 47

In order to maximize net benefits, firms should produce where:

  1. Total benefits equal total costs
  2. Profits are zero
  3. Marginal cost is minimized
  4. Marginal benefits equal marginal costs
Вопрос 48

If a producer offers a price that is in excess of a consumer's valuation of the good, the consumer:

  1. Must buy the good at that price
  2. Will refuse to purchase the good
  3. Must revalue the good
  4. None of the statements associated with this question are correct
Вопрос 49

Negotiations between the buyer and seller of a new house is an example of:

  1. Consumer-consumer rivalry
  2. Consumer-producer rivalry
  3. Producer-producer rivalry
  4. Monopoly
Вопрос 50

The behavior of bidders in an auction is an example of:

  1. Consumer-consumer rivalry
  2. Consumer-producer rivalry
  3. Producer-producer rivalry
  4. None of the statements associated with this question are correct
Вопрос 51

Under producer-producer rivalry, individual firms want to sell the product at the maximum price consumers will pay, but are unable to do this because of:

  1. Cost considerations
  2. The scarcity of resources
  3. Competition among sellers
  4. Competition among buyers
Вопрос 52

Economics

  1. Exists because of the scarcity
  2. Is not related to decision-making
  3. Is the science for the rich
  4. Has nothing to do with the allocation of resources