Economic theory (option 6)

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Uploaded: 19.10.2013
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Task 1. The company sells its product under conditions of perfect competition. Fixed costs are planned in the amount of 40 thousand. Rubles. The market price is 100 rubles per 1 share. The following information about the volume of the issue (Q) and variable costs (VC):
Q, thous. Pcs. 1 2 3 4 5 6
VC, ths. Rub. 80 140 190 260 300 400
• Determine by the method of comparing the marginal revenue with marginal cost of the most profitable enterprise for production volume. Plot.
• Justify the lowest selling price, which may take the company in the short and long term?
Task 2. Potential GDP is 3.8 trillion dollars., Real GDP is 3.705 trillion dollars. Determine the actual level of unemployment at the natural rate of unemployment of 6%.
Task 3. Describe ways to achieve the state when a planned and a market economy following the economic goals of society: stable prices, equitable distribution of income. Evaluate the positive and negative sides in each direction to achieve targets for the planned and market economy.

2. Perform the following test items:
. What problems in the transition economies must deal with the state:
a) assist the particular enterprise in a difficult financial situation;
b) to determine what and how much to produce from existing resources;
c) determine the range of goods and services required for public use.

2. The term "work" includes:
a) services working pensioners;
b) services to students;
g) services of unskilled workers;
d) the services of qualified workers;
e) services business;
g) Service managers and executives of firms.

3. Commodity Exchange may be:
a) dedicated;
b) universal;
c) futures.

4. Draw the line positive and negative manifestations of private property:
a) preferential differentiation of owners;
b) severe welfare dependency owner of the results of production activities;
c) promote the development of entrepreneurship;
d) increased competition.

5. Monopoly - a market structure in which:
a) there are almost insurmountable barriers to entry in the industry;
b) there is only one buyer;
c) there is a small number of competing producers;
d) there is only one major manufacturer;
d) there is no control over the prices of products.

6. If the supply and demand for goods increases, then:
a) the price increase;
b) increase the total quantity of the goods;
c) the price will remain stable;
g) welfare of the society will increase.

7. Land rent will increase, ceteris paribus, if:
a) reduced the price of land;
b) the growing demand for land;
c) reduced demand for land;
d) increasing the supply of land.

8. The most important factors for successful entrepreneurship are:
a) the availability of the necessary start-up capital;
b) the responsibilities and activities of the undertaking;
c) work under state law;
d) All of the factors listed above.

9. Which of the following statements is true:
a) each point on an indifference curve is a combination of two products;
b) each point on the budget line is a combination of two products;
c) all points on the indifference curve means the same level of utility;
d) all points on the budget lines indicate the same level of utility.

10. GNP - a measure:
a) the level of prices of goods sold and services;
b) the total expenditure of the government;
c) the amount of goods and services produced business;
d) the market value of the national gross output of final goods and services.

Additional information

11. Model "input-output"
a) proposed by W. Leontief;
b) proposed D. Neumann;
c) take into account the structural interdependence of all phases of production - production, distribution, exchange and consumption;
g) does not have a practical application;
d) a wireframe model of the economy.

12. Economic growth is measured as:
a) an increase in the real volume of national production for a certain period of time;
b) an increase in the real volume of national production per capita over a certain period of time;
c) an increase in investments in the economy for a certain period.

13. Public goods - these are:
a) which are produced at the enterprises of the public sector;
b) individual consumption of which can not be restricted;
c) that are consumed by state enterprises and organizations.

14. The monetary aggregate M2 includes:
a) cash plus money in current accounts;
b) all of the above in a.) plus savings deposits;
c) cash, money in current accounts, savings and term deposits;
d) cash plus term deposits.

15. Fiscal policy - is:
16. What type of inflation - demand pull or cost inflation - will cause the following events:
17. Export - is:
18. The national currency - is:
19. The exchange rate is determined by the following factors:

20. It is true - true:
The principle of distribution of "from each - according to his ability, to each - according to his needs" is not feasible in practice. - True, as the principle of "from each - according to his ability, to each - according to his needs" expresses the inherent communist society full social equality demands that society to its members, as well as the nature of the distribution of material and spiritual wealth. He destroys the foundations of a market economy.

21. Solve the problem:
A) Suppose that two companies (A and B) produce two goods: bicycles and tennis rackets. Both companies share a common currency. Initial data on the costs of labor are presented in the following table:
Goods labor costs per unit of output clocks
Firm A Firm B
Bicycles
Rackets 60
30120
40
• Build on the same graph line manufacturing capabilities for each firm. Which company has the advantage in the production of both goods?
• Calculate for each company the opportunity cost of production of bicycles expressed in rackets, and alternative production costs rackets expressed bicycles. Which company has a comparative advantage in the production of bicycles?
• Assume that the trade is not available. Each firm has 300 employees working 40 hours a week. Initially, each company half of the workers engaged in the production of bicycles, and the other half - in the production of tennis rackets. Calculate the volume of production of bicycles and rackets in each company. The results of calculations fill in the following table:
Volume of goods production units per week
Firm A Firm B amount
Bicycles
Rackets
• Assume that began the process of trade. Specialty next. The firm has a comparative advantage in producing rackets, racket releases only. Another company produces bicycles at the total volume of production that takes place in the absence of trade, and the remaining labor force directs to issue rackets. Calculate the volume of production of bicycles and rackets in each company. The results of the calculations made to the table layout which is given in the preceding paragraph. What are the benefits of the company are trading?

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