SAMPLE_MICRO-MACRO_QUESTIONS_English

SAMPLE_MICRO-MACRO_QUESTIONS_English - These sample...

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These sample microeconomic and macroeconomic questions are illustrative of the content you should be familiar with prior to attending the Training of Trainers Program and are for you to assess your knowledge of economics. Please do not return this section. SAMPLE MICROECONOMIC QUESTIONS 1) An upward sloping supply curve can be explained by the fact that: I. Higher prices mean greater profits for a producer. II. Eventually costs rise as production increases. III. Consumers find goods more valuable at higher prices. a. I only b. II only c. both I and II d. I, II, and III 2) What effects would a decrease in the price of computer memory chips have on the equilibrium price and quantity of personal computers, all other things equal? Price Quantity__ a. Increases Decreases b. Increases Increases c. Decreases Decreases d. Decreases Increases 3) The price of coal fell and the quantity sold also fell. Which of the following events is consistent with this observation (all other things equal)? a. The price of oil, a substitute for coal, fell. b. Coal miners received large wage increase. c. Coal producers installed more efficient mining equipment. d. Demand for coal is inelastic. 4) The term “ law of diminishing marginal utility ,” used in explaining downward sloping demand curves, other things constant, is best described by which of the following statements? As you consume
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SAMPLE_MICRO-MACRO_QUESTIONS_English - These sample...

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