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Economics Exam Sup Iplacex

This document contains the answers to 16 economics questions. For each question, it indicates whether the answer was correct or incorrect, the score obtained, and the feedback with the correct answer. The document evaluates the reader's economic knowledge on topics such as supply and demand, market equilibrium, taxes, and subsidies.
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0% found this document useful (0 votes)
8 views14 pages

Economics Exam Sup Iplacex

This document contains the answers to 16 economics questions. For each question, it indicates whether the answer was correct or incorrect, the score obtained, and the feedback with the correct answer. The document evaluates the reader's economic knowledge on topics such as supply and demand, market equilibrium, taxes, and subsidies.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 14

Question 1

Incorrect
It scores 0 out of 1
Mark question
Statement of the question
How is it possible to measure well-being?
economic of the society?

a.
Through the consumer surplus.

b.
By summing the market supply and demand curves.

c.
Through the sum of consumer surplus and producer surplus
producer.

d.
Through the application of a greater amount of taxes.
Feedback
The correct answer is: By adding the surplus of
consumer and the producer surplus.
Question 2
Correct
It is scored 1 out of 1

Mark question
Statement of the question
It is a commodity, whose benefits are distributed from
an indivisible way among the entire community,
regardless of certain individuals
they want or not to consume them." The previous definition
corresponds to:

a.
Public goods.

b.
Confiscated goods.

c.
Private goods.

d.
Giffen goods.
Feedback
The correct answer is: Public goods.
Question 3
Incorrect
It is scored 0 out of 1

Mark question
Statement of the question
The withdrawals from pension funds, as well as the
delivery of the Emergency Family Income (IFE) by
part of the government has injected a lot of liquidity
(money) to the economy, which has caused it to rise.
strongly inflation. Regarding the above, how about
What type of economic analysis does it refer to?

a.
Regulatory.

b.
Tautological.

c.
Positive.

d.
False.
Feedback
The correct answer is: Positive.
Question 4
Correct
It is scored 1 out of 1

Mark question
Statement of the question
It corresponds to the study of aggregated behavior
of the economy, resulting from the action of small
economic units. The previous definition
corresponds to:

a.
Macroeconomics.

b.
International economy.

c.
Econometrics.

d.
Microeconomics.
Feedback
The correct answer is: Macroeconomics.
Question 5
Correct
It is scored 1 out of 1

Mark question
Statement of the question
In Chile currently, $1600 pesos (US$
for a kilo of domestically produced apples,
while in Japan it costs around US$ 4
($3200 pesos) por kilo de manzanas chilenas.
Considering this situation, what would you expect to happen?
with the production of apples?

a.
First, all the apples would be sold internally and those that
they will be exported to Japan.

b.
Considering that the price of apples is higher in Japan than in
Chile, producers would seek to export as much as possible of
apples.

c.
Considering that -in any case- the apples will be sold, to the
The producer is indifferent to where the apples are sold.

d.
Considering that the price of apples is higher in Japan than in
Chile, producers would seek to import as much as possible of
apples
Feedback
The correct answer is: Given that the price of apples is
greater in Japan than in Chile, producers would seek to export the
maximum possible amount of apples.
Question 6
Correct
It is scored 1 out of 1

Mark question
Statement of the question
What does the colored area in the graph correspond to?
next?

a.
Demand curve

b.
Producer surplus

c.
Consumer surplus

d.
Price elasticity of demand
Feedback
Producer surplus
Question 7
Correct
It is scored 1 out of 1

Mark question
Statement of the question
Regarding the producer surplus, with which curve
is closely related?

a.
With the elasticity curve.

b.
With the supply curve.

c.
With the demand curve.

d.
With the indifference curve.
Feedback
The correct answer is: With the supply curve.
Question 8
Correct
It is scored 1 out of 1

Mark question
Statement of the question
In the government, there is a mechanism through which
money is injected from the state to prevent that
fuel prices rise more than a
a certain value, thus helping families to not
absorb the total cost of the increases in
fuels what would happen if they were regulated
only by the market; this tool is referred to as
known as 'MEPCO'. What is this type called?
of public policies?

a.
Adjustment of offer.

b.
Subsidy.

c.
Loan.

d.
Tax.
Feedback
The correct answer is: Subsidy.
Question 9
Correct
It is scored 1 out of 1

Mark question
Statement of the question
Having established a maximum price for bread
by the Government, which does not consider that the
supplies such as flour, lard, and gas have continued
constantly increasing in price throughout
the weather, What is expected to happen with the supply of
pan?

As production becomes more expensive and the selling price remains fixed, the
bakers will eventually stop offering bread, thus creating a
situation of scarcity in the market.

b.
The market is expected to continue operating in a similar manner to how
it was before the pricing was set.

c.
The supply of bread is completely elastic, so a variation
the price would have no effects on its consumption. Therefore,
the supply would be slightly affected.

d.
The government will be compelled to subsidize the price of bread.
Feedback
The correct answer is: As production becomes more expensive and maintaining the
fixed selling price, bakers will eventually stop offering
bread, thus creating a situation of scarcity in the market.
Question 10
Correct
It scores 1 out of 1
Mark question
Statement of the question
Two years ago, you could do it with $10,000.
buy 2 kilos of bread at the supermarket, 1/4 kilo
cold cuts, a drink, and some sweets. Nowadays
you can only buy 1 kilogram of bread, 1/8 kilogram of
cold cuts and some sweets. The previous example, to what
economic effect refers to?

a.
Substitution effect.

b.
Price effect.

c.
Transaction effect.

d.
Income effect.
Feedback
The correct answer is: Income effect.
Question 11
Correct
It is scored 1 out of 1

Mark question
Statement of the question
When is it understood that a market is in
in balance?
When there are no monopolies or other market distortions.

b.
When the state implemented all possible taxes for
generate a state of well-being.

c.
When the income of companies is correctly distributed
among the workers.

When the price and the quantity of goods traded in the market
the forces of supply and demand are equalized, that is, it is offered and
demands the same quantity at a certain price.
Feedback
The correct answer is: When the price and the quantity of goods
transactions in the market equal the forces of supply and demand, it is
to say, the same amount is offered and demanded at a certain
price.
Question 12
Incorrect
It is scored 0 out of 1.

Mark question
Statement of the question
Suppose you are a fan of consumption of
chocolates, but likewise does not support the taste that much
like the smell of cigarettes. If you are presented with
of the following choice alternatives, which
Which alternative would you choose?

a.
2 chocolates and 20 cigarettes.

b.
12 chocolates and no cigarettes.

c.
8 chocolates and 4 cigarettes.

d.
10 chocolates and 2 cigarettes.
Feedback
The correct answer is: 12 chocolates and no cigarettes.
Question 13
Correct
It is scored 1 out of 1

Mark question
Statement of the question
What does it mean that in economics it
Does he say that scarcity is relative?

a.
In fact, scarcity is a term invented by the
economists and each one interprets it in their own way, for which their
definition is relative.

b.
That there are goods that are actually not scarce, but rather...
produced in sufficient quantities to be consumed freely
around the world.

c.
The scarcity of a certain good depends on the situation in
the individual is in and the environment in which they are
unwrap.

d.
That people can consume whatever they want, if they have a
economic situation that allows them to do so.
Feedback
The correct answer is: That the scarcity of a certain good
it depends on the situation in which the individual finds himself and of the
environment in which it unfolds.
Question 14
Correct
It is scored 1 out of 1

Mark question
Statement of the question
The government, in an attempt to meet the ideals of
justice and equity, as well as achieving a better
wealth distribution, establishes a tax on the
called 'super rich', they must pay a
2% of your assets if it is greater than US$ 5
millions, as well as substantively taxes
older adults for any good or service they acquire.
The above, with what organizing principle of
How is the tax system related?

a.
Principle of payment capacity.

b.
Principle of equality before the law.

c.
Principle that everyone is equal under the Law.

d.
Principle of benefit.
Feedback
The correct answer is: Principle of payment capacity.
Question 15
Correct
It is scored 1 out of 1

Mark question
Statement of the question
Reviewing the following graph. Which one(s) of the
colored areas correspond to the collection
tax

a.
Area B + Area D.
b.
Area A + Area C.

c.
Area D.

d.
Area B.
Feedback
The correct answer is: Area B.
Question 16
Correct
It is rated 1 out of 1

Mark question
Statement of the question
Assume that Chile is a wheat importing country, already
that the price of this product abroad is very
lower than the local price. In that context, the Government
imposes a tariff on wheat (a tax on the
(import). What is one of the objectives that it has?
this action?

a.
Seek for local producers to specialize in production of
other assets.

b.
It seeks to drive up the price of imported wheat, so that the
internal producers become more competitive in this industry.

c.
Try to lower the price of imported wheat, so that the
internal producers are less competitive in this industry.

d.
Seeks to develop better business relationships with foreign countries.
Feedback
The correct answer is: Aims to raise the price of wheat
imported, so that domestic producers are more
competitive in this industry.
Question 17
Incorrect
It scores 0 out of 1
Mark question
Statement of the question
What does the colored area in the graph correspond to?
next?

a.
Producer surplus.

b.
Price elasticity of demand.

c.
Demand curve.

d.
Consumer surplus.
Feedback
The correct answer is: Consumer surplus.
Question 18
Correct
It is scored 1 out of 1

Mark question
Statement of the question
It is understood as the amount of goods and services
that companies produce and offer in the market.
The aforementioned concept corresponds to:

a.
Income elasticity of demand.
b.
Market offer (supply theory).

c.
Price elasticity of demand.

d.
Market demand (demand theory).
Feedback
The correct answer is: Market supply (supply theory).
Question 19
Correct
It is scored 1 out of 1

Mark question
Statement of the question
It is known that the price elasticity of demand for
insulin is 0.01. What can be said about it?
from the demand curve?

a.
That the demand curve is unitary.

b.
That the demand curve is inelastic.

c.
That the demand curve is elastic.

d.
That the demand curve does not exist.
Feedback
The correct answer is: That the demand curve is inelastic.
Question 20
Incorrect
It scores 0 out of 1
Mark question
Statement of the question
The following graph corresponds to:
a.
Perfectly inelastic demand.

b.
Perfectly unitary demand.

c.
Perfectly elastic demand.

d.
Market equilibrium.
Feedback
The correct answer is: Perfectly elastic demand.

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