 TRIMESTRAL 2023   CASANDRA MAE LAMIGO

 UGRD-ECON6150-2023T

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UGRD-ECON6150 Microeconomics
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Started on Wednesday, 20 January 2021, 7:25 PM
State Finished
 ECON121 -
Completed on Wednesday, 20 January 2021, 7:49 PM CASANDRA MAE LAMIGO
Microeconomics Theory
and Practice Time taken 23 mins 50 secs 1 2 3 4 5 6 7 8 9
Marks 50.00/50.00
 Week 1: Introduction to Grade 100.00 out of 100.00 10 11 12 13 14 15 16 17 18
Microeconomics
Question 1 The _______ determine supply price consist of wages and profits.
19 20 21 22 23 24 25 26 27

 Week 2: History of Correct

Microeconomics 28 29 30 31 32 33 34 35 36
Mark 1.00 out of Select one:
1.00
a. Interest
37 38 39 40 41 42 43 44 45
 Week 3: Theories of Flag question

Microeconomics b. Capitalist
46 47 48
c. Profit
 Week 4: Prelim
d. Costs of production 
Finish review
 Week 5:
Microeconomics
Production and Capital Question 2 The characteristic by which goods are specified and that they have value that is purchasing
Theory Correct power over each other wherein the list of goods is quite specific with so many actual particular
Mark 1.00 out of objects is called ________.
1.00

Flag question Select one:

a. Blast furnaces 

b. Cost of capital

c. Stock of wealth

d. Adam and Eve

Question 3 The _______ economist thinks of a position of equilibrium as a position towards which an
Correct economy is tending to move as time goes by.
Mark 1.00 out of
1.00 Select one:
Flag question a. Neo-classical 

b. Physical stock

c. Capital

d. Equilibrium

Question 4 _______ used only one basic criterion of social improvement called the Pareto comparison.
Correct

Mark 1.00 out of Select one:

1.00 
a. New welfare economics
Flag question
b. Bergson/Samuelson

c. General equilibrium theory

d. Economic theory

Question 5 _______ considered that claim to residue refers to residual rights of control with the implication
Correct that those with claims regarding the ownership of residue are the contractual controllers in
Mark 1.00 out of respect of actions concerning the assets and have the final decision and also that they bear
1.00 operational profits and losses independently.
Flag question
Select one:
a. Prosperous capitalist

b. China

c. Yang Xiaowei 

d. Residual rights of control

Question 6 _______ transactions in enterprise control rights began in 1984 in such cities as Baoding and
Correct Wuhan.
Mark 1.00 out of
1.00 Select one:
Flag question a. Residual rights of control

b. Yang Xiaowei

c. Prosperous capitalist

d. China 

Question 7 _______ considers social welfare function, which although still problematic along positivist
Correct grounds, provided a framework for ranking different social states on the basis of a configuration
Mark 1.00 out of or profile of individual preferences.
1.00

Flag question Select one:

a. Bergson/Samuelson 

b. Economic theory

c. General equilibrium theory

d. New welfare economics

Question 8 When _______ and _______ span there were evidently a spade and a spindle already in existence.
Correct

Mark 1.00 out of Select one:

1.00 
a. Adam and Eve
Flag question
b. Blast furnaces

c. Stock of wealth

d. Cost of capital

Question 9 _______ is making current products available for the workers to consume in the meantime.
Correct

Mark 1.00 out of Select one:

1.00
a. Investment
Flag question
b. Stock of capital

c. Productiveness of capital

d. Saving 

Question 10 _______ consists, in essence, in employing labor now in a way which will yield its fruits in the
Correct future.
Mark 1.00 out of
1.00 Select one:
Flag question a. Investment 

b. Saving

c. Productiveness of capital

d. Stock of capital

Question 11 The _______ of a capitalist who has the machine built in his own workshops will expect to receive,
Correct from sales of the final output which includes profit on the interest on the cost of having the
Mark 1.00 out of machine built reckoned over the period of construction.
1.00

Flag question Select one:

a. Profit 

b. Interest

c. Costs of production

d. Capitalist

Question 12 _______ theory carried with it key foundational problems surrounding the very concept of
Correct rationality in a game-theoretic setting.
Mark 1.00 out of
1.00 Select one:
Flag question a. Vienna Colloquium

b. Rational-choice game 

c. Amartya Sen

d. Evolutionary-type reasoning

Question 13 _______ is characterize by a unit of labor that was expended at a certain time in the past is more
Correct valuable today than a unit expended today, because its fruits are already ripe.
Mark 1.00 out of
1.00 Select one:
Flag question a. Productiveness of capital 

b. Saving

c. Investment

d. Stock of capital

Question 14 _______ is the specific list of all the goods in existence at any moment including work-in-
Correct progressing the pipe lines of production.
Mark 1.00 out of
1.00 Select one:
Flag question a. Saving

b. Investment

c. Stock of capital 

d. Productiveness of capital

Question 15 _______ held that the utilities of different commodities were not independent with some
Correct commodities functioning as substitutes or complements for each other or the consumption of a
Mark 1.00 out of commodity affecting the utility of another commodity in some fashion.
1.00

Flag question Select one:

a. Godel's proof

b. General equilibrium

c. Walras and Pareto

d. Pareto 

Question 16 _______ and _______ started from observed disequilibrium and through a process of adjustments,
Correct they approached general equilibrium.
Mark 1.00 out of
1.00 Select one:
Flag question a. General equilibrium

b. Godel's proof

c. Walras and Pareto 

d. Pareto

Question 17 _______ is the power to make decisions regarding the distribution of the residue produced under
Correct a contract.
Mark 1.00 out of
1.00 Select one:
Flag question a. Prosperous capitalist

b. Yang Xiaowei

c. China

d. Residual rights of control 

Question 18 _______ economies are those where the rate of profit is falling in spite of rapid technical progress
Correct and miserable ones are those where the rate of profit is high in spite of technical stagnation.
Mark 1.00 out of
1.00 Select one:
Flag question a. Yang Xiaowei

b. Prosperous capitalist 

c. Residual rights of control

d. China

Question 19 _______ is the result of the extension of proprietorial enterprises wherein if proprietors establish a
Correct partnership by means of a contract they become partners.
Mark 1.00 out of
1.00 Select one:
Flag question a. U.S. Federal Securities Act

b. Zhu Yikun

c. City of London Regulations

d. Partnerships 

Question 20 Godel's proof is the boundary of the analyticity of arithmetic which was not airtight and for the
Correct Colloquium's work on general equilibrium theory wherein Carnap's invocation of ever richer
Mark 2.00 out of arithmetical languages was problematic and would prove to be prophetic at least with regard to
2.00 ________.
Flag question
Select one:
a. Bergson/Samuelson

b. General equilibrium theory 

c. Economic theory

d. New welfare economics

Question 21 _______ provides control which means that the power to exercise a controlling influence over a
Correct company's operational management and specific policies or the activity of a natural person
Mark 1.00 out of directly or indirectly whether by voting, through one or more intermediaries such as a contract
1.00 or other means.
Flag question
Select one:
a. Partnerships

b. City of London Regulations

c. U.S. Federal Securities Act 

d. Zhu Yikun

Question 22 _______ analyzed the process by which a social welfare function might be formulated, arguing
Correct that a social welfare function is only a valid concept if it is derived from the preferences of the
Mark 1.00 out of individuals composing the society.
1.00

Flag question Select one:

a. Utilitarian welfare economics

b. Kenneth Arrow 

c. Bentham

d. Keynes

Question 23 There is a quantity which can be translated from one number to another by changing the unit
Correct and this is called ________.
Mark 1.00 out of
1.00 Select one:
Flag question a. Capital

b. Neo-classical

c. Physical stock

d. Equilibrium 

Question 24 _______ succinctly defines corporate control as the power exercised over the company with
Correct varying degrees of influence by shareholders or those with related benefits.
Mark 1.00 out of
1.00 Select one:
Flag question a. City of London Regulations

b. Partnerships

c. Zhu Yikun 

d. U.S. Federal Securities Act

Question 25 _______ is an un-invested finance for a sum of money and the net receipts of a business are sums
Correct of money.
Mark 1.00 out of
1.00 Select one:
Flag question a. Neo-classical

b. Equilibrium

c. Physical stock

d. Capital 

Question 26 The theory of the market for corporate control was first put forward by Professor _______ of the
Correct Washington University Law School in 1965.
Mark 1.00 out of
1.00 Select one:
Flag question a. Separation of ownership and control

b. Henry G. Manne 

c. Mechanisms

d. Decision management

Question 27 Professor _______ of the U.S. Corporate Governance Authority and the Wharton School stated
Correct that the American enterprise system has been transformed from "management capitalism" with
Mark 1.00 out of de facto management control to "investor capitalism" where the investor exercise effective
1.00 constraints on managers.
Flag question
Select one:
a. External control mechanisms

b. Michael Useem 

c. Agency costs

d. China

Question 28 It comes to employ a particular methodological outlook where theory was understood to
Correct correspond with truth and was prior to the dissembling world of praxis called _______.
Mark 1.00 out of
1.00 Select one:
Flag question a. General equilibrium theory

b. Bergson/Samuelson

c. New welfare economics

d. Economic theory 

Question 29 The _______ and _______ refers to the phenomenon of the almost total lack of control rights or
Correct lack of direct control rights over company management policy by shareholders in publicly held
Mark 1.00 out of corporations.
1.00

Flag question Select one:

a. Separation of ownership and control 

b. Decision management

c. Mechanisms

d. Henry G. Manne

Question 30 _______ is the boundary of the analyticity of arithmetic which was not airtight and for the
Correct Colloquium's work on general equilibrium theory wherein Carnap's invocation of ever richer
Mark 1.00 out of arithmetical languages was problematic and would prove to be prophetic at least with regard to
1.00 general equilibrium theory.
Flag question
Select one:
a. Walras and Pareto

b. Pareto

c. Godel's proof 

d. General equilibrium

Question 31 The _______ theory came about in the latter half of the 19th century explicitly in the form of Leon
Correct Walras' 1874 work "Elements of Pure Economics" and subsequently with the addition of
Mark 1.00 out of graphical representation in his 1892 paper "Geometrical Theory of the Determination of Prices".
1.00

Flag question Select one:

a. General equilibrium 

b. Walras and Pareto

c. Pareto

d. Godel's proof

Question 32 The _______ of the United Kingdom define control rights as the ownership or joint ownership of
Correct 30% or more of the voting shares in a company whether or not the amount owned constitutes
Mark 1.00 out of the actual voting rights.
1.00

Flag question Select one:

a. U.S. Federal Securities Act

b. City of London Regulations 

c. Partnerships

d. Zhu Yikun

Question 33 The theory of value treats the short period, in which the _______ of capital equipment is given
Correct and it has many applications.
Mark 1.00 out of
1.00 Select one:
Flag question a. Capital

b. Neo-classical

c. Equilibrium

d. Physical stock 

Question 34 _______ was substantially criticized if not undermined by the argument that interpersonal
Correct comparisons of utility had no scientific basis.
Mark 1.00 out of
1.00 Select one:
Flag question a. Keynes

b. Bentham

c. Utilitarian welfare economics 

d. Kenneth Arrow

Question 35 _______ is positive because profits are positive though at the same time the cost and difficulty of
Correct obtaining finance play a part in keeping productive equipment scarce and so contribute to
Mark 1.00 out of maintaining the level of profits.
1.00

Flag question Select one:

a. Capitalist

b. Profit

c. Interest 

d. Costs of production

Question 36 _______ includes the decision's initial proposal and its implementation after authorization while
Correct decision control includes the examination and approval of the proposed decision and
Mark 1.00 out of supervision of its implementation.
1.00

Flag question Select one:

a. Henry G. Manne

b. Separation of ownership and control

c. Mechanisms

d. Decision management 

Question 37 _______ Company Law provides that companies can take two forms, namely limited liability
Correct companies or joint stock limited companies.
Mark 1.00 out of
1.00 Select one:
Flag question a. Agency costs

b. China 

c. External control mechanisms

d. Michael Useem

Question 38 A _______ buys a machine readymade pays a price for it which includes profit to the capitalist
Correct who sells it.
Mark 2.00 out of
2.00 Select one:
Flag question a. Capitalist 

b. Interest

c. Profit

d. Costs of production

Question 39 _______ of corporate governance is mainly reflected in the market for corporate control and
Correct especially in contention for control rights.
Mark 1.00 out of
1.00 Select one:
Flag question a. Michael Useem

b. Agency costs

c. External control mechanisms 

d. China

Question 40 _______ continued to work on the possibility of the existence, stability, and uniqueness of general
Correct equilibrium theory in increasingly complex formal mathematical models.
Mark 1.00 out of
1.00 Select one:
Flag question a. Vienna Colloquium 

b. Amartya Sen

c. Evolutionary-type reasoning

d. Rational-choice game

Question 41 _______ includes the cost of capital goods, and since they must be constructed before they can
Correct be used, part of which is interest over the period of time between the moment when work was
Mark 1.00 out of done in constructing capital goods and the time when they are producing a stream of output.
1.00

Flag question Select one:

a. Cost of capital 

b. Adam and Eve

c. Blast furnaces

d. Stock of wealth

Question 42 The process of accumulation consists in refraining from consuming current output in order to
Correct add to the ________.
Mark 1.00 out of
1.00 Select one:
Flag question a. Stock of wealth 

b. Adam and Eve

c. Cost of capital

d. Blast furnaces

Question 43 _______ pioneered the use of utilitarian calculus to obtain judgments about the social interest by
Correct aggregating the personal interests of different individuals in the form of their respective utilities.
Mark 1.00 out of
1.00 Select one:
Flag question a. Utilitarian welfare economics

b. Keynes

c. Bentham 

d. Kenneth Arrow

Question 44 _______ is a pioneer and advocate of social choice theory and he attacked the notion of the
Correct abstract individual subject displaying a rarefied form of social behavior integral to the history of
Mark 1.00 out of economic theory as too simplistic.
1.00

Flag question Select one:

a. Rational-choice game

b. Vienna Colloquium

c. Evolutionary-type reasoning

d. Amartya Sen 

Question 45 _______ is a type of reasoning that is amenable in principle to a multiplicity of player types such
Correct as own-gain maximizes and those preferring equality.
Mark 1.00 out of
1.00 Select one:
Flag question a. Evolutionary-type reasoning 

b. Vienna Colloquium

c. Amartya Sen

d. Rational-choice game

Question 46 In the theory of the market for corporate control, the conduct of takeovers by companies in that
Correct market and the accompanying threat of takeover are external control mechanisms, which can
Mark 1.00 out of reduce _______.
1.00

Flag question Select one:

a. Agency costs 

b. Michael Useem

c. China

d. External control mechanisms

Question 47 _______ of restraint in corporate control can be examined with regard to internal and external
Correct mechanisms.
Mark 1.00 out of
1.00 Select one:
Flag question a. Decision management

b. Henry G. Manne

c. Mechanisms 

d. Separation of ownership and control

Question 48 _______ had diagnosed the Great Depression of the 1930s as a failure of aggregate demand.
Correct

Mark 1.00 out of Select one:

1.00 
a. Keynes
Flag question
b. Kenneth Arrow

c. Utilitarian welfare economics

d. Bentham

Finish review

Lesson 7: Full Cost Theory of

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