ECO802 Tma Solutions
1. The following are microeconomic models except___
Models of Consumer behaviour
Models of the Production behaviour
The Market Equilibrium models
—>> Welfare-consumer model
2. ___is the study of economic actions of individual households and firms
Macroeconomics
—>> Mircoeconomics
Welfare
None of the above
3. Every rational individual operates in the following roles except___
The individual as a consumer
The individual provides productive services
The individual participates in the political process
—>> The individual act as demander of labour
4. ___is a field that focuses on the optimal allocation of resources.
Pareto optimality
—>> Welfare economics
Public finance
Microeconomics
5. The ideal equilibrium condition for establishing the long-run relationship between inflation and rate of growth of money supply is___
—>> Liquidity market equilibrium
Product market equilibrium
Expenditure market equilibrium
Goods market equilibrium
6. ___can be defined as a mathematical technique for solving maximisation and minimisation problems in business and economic decisions.
Optimization techniques
—>> Linear programming
General equilibrium
Demand analysis
7. Failure to achieve efficiency by the market system is cause by all of the following except___
Public goods
Externalities
—>> Private goods
Imperfect Competition
8. Which of these is not a direct instruments of monetary policy___
Aggregate Credit Ceilings
Deposit Ceilings
Special Deposits
—>> Liquidity Ratio
9. When total product is at a maximum___
Marginal product is increasing
Marginal product is decreasing
—>> Marginal product is zero
Marginal product is rising at a declining rate
10. If income were perfectly equally distributed, the Lorenz curve would be a___line.
—>> Diagonal straight
Downward straight
Declining straight
Proportionate straight
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