EMI3571 06 sup 2019.pdf - lJ #&*$ F'ACULTY Economics and...

lJ,#&*$
F'ACULTY
Economics and Management
Science
DEPARTMENT
Economics
SUBJECT
Basic Microeconomics
SUBJECT CODE
EMI357I
DATE
June
2019
DURATION
3 hours
MARKS
100
This question paper
consists of
9 pages
including
this cover
page
Examiner:
Professor Roman
Grynberg (UNAM)
Examiner: Mr.
Sakaria Kalumbu
GINAM)
Examiner:
Ms.
M.
Nangolo
(UNAM)
Examiner:
Ms.
M.
Johannes ({INAM)
Moderator:
Dr
Omu Kakujaha-Matundu
(UNAM)
lnstructions
o
Read all instructions carefully
before
you start writing.
o
This
paper
consists of six
questions.
.
Attempt all
questions.
LIIIIVERSITY
OF'
NAMIBIA
EXAMINATIONS

Question
1 [25
marks/l mark
eachl
Multiple choice
Choose
the
correct answer
1)
Scarcity is a
situation
in which
cannot'
2)
In part,
microeconomics
is
concerned
with
it
sets'
of time'
time.
3)
When
a farmer
decides
to
raise hogs instead
of
cattle,
the
farmer is
answering
part
of
one
of the
two big economic
questions'
the
4)
A marginal cost
curve
A) is upward sloPing.
B)
shows
that
as
,,,or.
or,
good
is
produced,
opportunity
costs
of
producing
unit increase'
Cj
i, bo*.d
inward
so
that
its
slope can become
negative'
D) Both answers
A
and
B
are
correct'
another
5)
When
an economy
produces
at its
allocatively
efficient
production
point'
goods'
production
6)Whenthepriceofaninferiorgoodfalls,thesubstitutioneffectleadsto
quantitypurchasedandtheincomeeffectleadstointhequantity
A)
an increase;
an increase
B)
an increase;
a
decrease