Entrance model exams / Economics model exam

A mutual interdependence

B the ability to collude with respect to price

C a large number of firms

D a downward-sloping demand curve

E barriers to entry

A Perfect competition has a large number of small firms while monopolistic competition does not

B in monopolistic competition, firms produce identical goods, while in perfect competition, firms produce slightly different goods

C Perfect competition has no barriers to entry, while monopolistic competition does

D in perfect competition, firms produce identical goods, while monopolistic competition firms produce slightly different goods

A Fuel

B Consumer goods

C Semi-finished goods

D Capital goods

A Enhancing economic growth

B To manage public enterprise

C Maintaining price instability

D to reallocate resources

A GDP includes the values of existing goods

B GDP measures the monetary values of goods and services in a year

C GDP is an aggregate measure

D The values of intermediate goods exclude from GDP

A GDP includes the income from abroad whereas GNP excludes it

B GDP is limited to the geographical boundary of a country whereas GNP includes the values that produced by citizens without limited to geographical boundary

C GDP includes the values of barter system while GNP excludes it

D GDP avoids the problems of double counting while GNP is not

A Non-availability of data

B Barter system

C Production for self-consumption

D Maintenance of accounts

A Personal income

B Net factor income

C Depreciation

D Indirect income

A Personal disposable income

B Net national product at factor cost

C National income

D Net national product at market price

A Rent received from apartment

B Social security payment

C Income of dentist

D Value of production for self-consumption