Intermediate Macroeconomics 2

Intermediate Macroeconomics 2

University

10 Qs

quiz-placeholder

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Intermediate Macroeconomics 2

Intermediate Macroeconomics 2

Assessment

Quiz

Specialty

University

Hard

Created by

Minh Đức Nguyễn

Used 6+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What Determines a Nation’s Total Output?

The economy’s ability to produce goods and services depend on its prices of inputs or factors of production and technology to turn inputs into output.

The economy’s ability to produce goods and services depend on its quantity of inputs or factors of production and technology to turn inputs into output.

The economy’s ability to produce goods and services depend on the demand of consumers

The economy’s ability to produce goods and services depend on Capital resources and human resources

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What is the economy's production function?

Y=f(L,R)

Y=f(L,T,R)

Y=K/L

Y=f(L,K,R)

3.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

What should the company do when MPL > W/P?

firm should hire less L

firm should hire the right amount of L

firm should hire more L

firm should not hire L

4.

FILL IN THE BLANK QUESTION

20 sec • 1 pt

In the neoclassical model, there are 3 markets: Goods and services market, _______ market, Loanable funds market

5.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

MPL(marginal Production of Labor)=?

6.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

The revenue maximized when:

MPL=W/P

MPL=R/P

MPK=R/P

MPK=W/P

7.

FILL IN THE BLANK QUESTION

20 sec • 1 pt

Media Image

How many labor the firm should employ if W/P=5 to maxmize the revenue?

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