9708_w15_qp_33 - Cambridge International Examinations Cambridge International Advanced Level 9708\/33 ECONOMICS Paper 3 Multiple Choice(Supplement

9708_w15_qp_33 - Cambridge International Examinations...

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This document consists of 12 printed pages. IB15 11_9708_33/3RP © UCLES 2015 [Turn over *3302824608* Cambridge International Examinations Cambridge International Advanced Level ECONOMICS 9708/33 Paper 3 Multiple Choice (Supplement) October/November 2015 1 hour Additional Materials: Multiple Choice Answer Sheet Soft clean eraser Soft pencil (type B or HB is recommended) READ THESE INSTRUCTIONS FIRST Write in soft pencil. Do not use staples, paper clips, glue or correction fluid. Write your name, Centre number and candidate number on the Answer Sheet in the spaces provided unless this has been done for you. DO NOT WRITE IN ANY BARCODES. There are thirty questions on this paper. Answer all questions. For each question there are four possible answers A , B , C and D . Choose the one you consider correct and record your choice in soft pencil on the separate Answer Sheet. Read the instructions on the Answer Sheet very carefully. Each correct answer will score one mark. A mark will not be deducted for a wrong answer. Any rough working should be done in this booklet.
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2 © UCLES 2015 9708/33/O/N/15 1 In an economy, no one can be made better off without making someone else worse off. What does not necessarily follow from this? A The conditions for allocative efficiency have been met. B The conditions for productive efficiency have been met. C The distribution of income is socially acceptable. D The economy is operating at a point on its production possibility frontier. 2 To maximise the satisfaction she derives from a given level of expenditure on two goods, X and Y, how should a consumer allocate her expenditure between the two goods? A marginal utility X = marginal utility Y B marginal utility X × price of X = marginal utility Y C Y of price X utility marginal = X of price utility Y marginal D utility Y marginal X utility marginal = Y of price X of price 3 The line RS in the diagram is a consumer’s budget line. O R S quantity of X M N quantity of Y The consumer initially chooses the combination of X and Y indicated by point M on his budget line. He subsequently chooses the combination indicated by point N. What could explain the change from point M to point N? A a change in his tastes B a decrease in the price of X and a bigger percentage increase in the price of Y C an increase in the price of X and an increase in his income D equal percentage increases in his income and in both prices
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3 © UCLES 2015 9708/33/O/N/15 [Turn over 4 The diagram shows a firm’s initial marginal revenue product of labour curve (MRP). O labour hours marginal revenue product of labour MRP 1 MRP What could cause the curve to shift to MRP 1 ? A a cut in the wage rate B a fall in the price of the final product C an increase in the wage rate D a rise in the price of the final product 5 The diagram shows a perfectly competitive firm’s average product of labour (APL) and marginal product of labour (MPL) curves.
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