Economics: set 1
10 questions. Click an option: a correct answer turns green, a wrong one red, and an explanation appears.
In a sewing workshop, the total cost of sewing 100 shirts is 5 000 000 soums, and of 101 shirts 5 040 000 soums. What is the marginal cost of the 101st shirt?
A cook's nominal wage rose by 10% over a year, and over the same period the prices of the goods he buys also rose by 10%. How did his real income change?
When the price of samsa at a cafe rose by 10%, the quantity sold fell by 20%. What is the price elasticity of demand coefficient (in absolute value) and the type of demand?
On a hot day a traveler drank ayran glass after glass. His total utility (in arbitrary units): after the 1st glass 10, after the 2nd 18, after the 3rd 24, after the 4th 28. What is the marginal utility of the 3rd glass?
Dilnoza quit a job paying 6 mln soums a month and opened a flower shop. The shop's monthly revenue is 25 mln soums, and its expenses paid in cash are 15 mln soums. Taking opportunity cost into account, what is the monthly economic profit?
A hypothetical country's nominal GDP in the current year is 1 320 bln units, and the GDP deflator (relative to the base year) is 110%. What is real GDP?
In a hypothetical country in one year: household consumption spending 500, investment 150, government purchases 200, exports 120, imports 170 (bln units). What is GDP by the expenditure approach?
In the melon market from the previous question (Qd = 100 − 2P, Qs = 20 + 2P), what happens if the price is held fixed at 15 thousand soums?
In a city market, the demand function for melons is Qd = 100 − 2P and the supply function is Qs = 20 + 2P (P is the price in thousand soums; Q is in units). What are the equilibrium price and equilibrium quantity?
Farhod put his money in a deposit for one year at a nominal return of 20%. That year the price level rose by 10%. By the exact formula, approximately what is his real return in percent?