A Level Economics Du Financial Times

[Hayek's plosive]

http://www.ft.com/cms/s/0/6a03d5e2-05b3-11e3-ad01-00144feab7de.html

 

 

[Brock]

il faut register, fuck.tu veux pas nous copier le texte?

[Hayek's plosive]

Page 1 of 1

Q.1

The central purpose of economic activity is:

• to create maximum profit.
• the satisfaction of needs and wants.
• to achieve economic efficiency.
• to save scarce resources.

 

Q.2

An economy in which average incomes have fallen by 5 per cent has also seen the demand for holidays overseas fall by 20 per cent. It can be concluded from this that the income elasticity of demand for holidays overseas is:

• + 4.0
• – 4.0
• + 0.25
• – 0.25

 

Q.3

Which one of the following would be classified by an economist under the factor of production known as land?

• A tractor
• Chemical fertiliser
• Fish in the ocean
• A farmer

 

Q.4

One reason why UK governments provide education is because:

• the private benefit from education is less than the social benefit.
• education cannot be provided by the free market.
• all education is both a merit good and a public good.
• this ensures that the provision of education is maximised.

 

Q.5

All other things being equal, which one of the following would be the most likely consequence of an appreciation in the external value of a country’s currency? An increase in:

• the domestic price level
• the volume of exports
• employment in the domestic economy
• the volume of imports

 

Q.6

The UK economy enters a recession but the current account deficit on the balance of payments remains high. Given these problems, which one of the following would be most likely to improve economic performance?

• An increase in taxes on imported goods and a fall in the value of the pound
• A fall in interest rates and a rise in the value of the pound
• A fall in the money supply and an increase in taxes on imported goods
• A fall in government spending and a rise in interest rates

 

 

[Hayek's plosive]

Les réponses:

 

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Q.1 The central purpose of economic activity is:

to create maximum profit.

✓

the satisfaction of needs and wants.

to achieve economic efficiency.

to save scarce resources.

Q.2 An economy in which average incomes have fallen by 5 per cent has also seen the demand for holidays overseas fall by 20 per cent. It can be concluded from this that the income elasticity of demand for holidays overseas is:

✓

+ 4.0

– 4.0

+ 0.25

– 0.25

Q.3 Which one of the following would be classified by an economist under the factor of production known as land?

A tractor

Chemical fertiliser

✓

Fish in the ocean

A farmer

Q.4 One reason why UK governments provide education is because:

✓

the private benefit from education is less than the social benefit.

education cannot be provided by the free market.

all education is both a merit good and a public good.

this ensures that the provision of education is maximised.

Q.5 All other things being equal, which one of the following would be the most likely consequence of an appreciation in the external value of a country’s currency? An increase in:

the domestic price level

the volume of exports

employment in the domestic economy

✓

the volume of imports

Q.6 The UK economy enters a recession but the current account deficit on the balance of payments remains high. Given these problems, which one of the following would be most likely to improve economic performance?

✓

An increase in taxes on imported goods and a fall in the value of the pound

A fall in interest rates and a rise in the value of the pound

A fall in the money supply and an increase in taxes on imported goods

A fall in government spending and a rise in interest rates

[Cthulhu]

Wow 5/6 en n'ayant pris aucun cours d'économie de ma vie

 

Et encore, je me doutais qu'en repondant "fall in government spending" à la 6, j'allais me faire avoir.

[Hayek's plosive]

Des journalistes du FT disent que les questions 4 et 6 sont foireuses dans la section comments.

[Jesrad]

Faut m'expliquer pour le poisson.

[Sloonz]

Faut m'expliquer pour le poisson.

C’est juste la distinction entre les trois types de facteurs de production (travail, capital et nature) qu’on trouve chez à peu près tous les économistes depuis quelques siècles.

[Invité]

J'ai eu 3/6; je suis nul. 

[Ray]

6/6 

 

Pour la sixième j'ai répondu par élimination mais

l'augmentation de la taxe sur l'importation va se répercuter sur l'exportation donc c'est foireux