Example Questions for Econ 2460 Final Exam
Section I: Multiple Choice (Hint for the preparation for the final exam: Most of them are
from the definitions or concepts from the required textbook)
1) In perfect competition,
A) there are significant restricti
Module 1 Imperfect Competition and Business Strategy
Introduction
Units 1 and 2 (textbook chapters 11 and 12) look at various types of imperfect competition involving a single producer (monopoly), a small number of producers (oligopoly) and many producers
Question1:
a. since we have the formula participation rate=labour force/population
2013,July: Participation rate=155798/155798+88560=0.6376
2013,August: Participation rate =155486/155486+89988=0.6334
2014,July: Participation rate =156023/156023+90451=0.63
NAME: YULIN LIU
STUDENT NUMBER: 7733936
Question 1
a. an increases in the money supply shifts the LM curve to the right(LM1 to LM2) in the
short run, which moves A to B in the graph. The interest rate decreases from r1 to r2,
and output increases from Y t
Question1:
a. since we have the formula participation rate=labour force/population
2013,July: Participation rate=155798/155798+88560=0.6376
2013,August: Participation rate =155486/155486+89988=0.6334
2014,July: Participation rate =156023/156023+90451=0.63
Question1
a. Let D > R be the rates of inflation that will result under the two parties policies if
they are pursued in the long run (equal to their respective rates of monetary expansion
minus the long-term rate of growth of real income), and let = (D +
Sample Long answer question (ch. 3,4,8)
1.
A consumer decides not to buy a VCR when her income is $20,000. However, when her income
rises to $30,000, she decides to buy one. In a single diagram, draw the budget lines and
indifference curves to illustrate
Unit 3 Game Theory and Strategic Behaviour
Learning objectives
W hen you have completed this unit, you should be able to answer, in less than one page and in your own words, the following questions: 1. 2. 3. 4. 5. 6. W hat is a payoff matrix? How does it
Unit 2 Monopolistic Competition and Oligopoly
Learning objectives
W hen you have completed this unit, you should be able to answer, in less than one page and in your own words, the following questions: 1. 2. 3. 4. 5. 6. 7. 8. W hat is meant by product dif
1. a.
If the bank of Canada reduces the money supply, the aggregate demand curve would be shifts
downward. This result is due to the quantity equation MV = PY, then if money decresed M
leads to a decrease in nominal output PY (V is fixed). For any given p