Econ MC Answers (By Topics)

HKCEE Economics Paper II Answers 1990-2008
1.1 Scarcity
01. D
02. B
03. D
04. C
1.2 Choice and opportunity cost

01. A
11. C
21. C
1.3 Goods
01. C
11. D
21. B
02. A
03. A
04. D
11. D
06. B
07. D
08. B
09. D
10. D
05. D
06. C
07. C
08. C
09. C
10. D
25. C
26. D
12. A
13. A
14. D
15. C
02. C
03. D
04. C
05. B
22. C
12. C
22. D
23. C
13. C
23. B
24. C
14. D
24. B
1.4 Three basic economic problems

01. B
05. D
02. D
12. B
03. C
13. C
2.1 Demand and Supply
04. D
15. B
16. D
17. D
18. A
19. A
20. C
06. C
07. D
08. A
09. D
10. D
16. C
17. C
18. B
26. D
27. D
28. B
29. C
30. A
05. C
06. C
07. D
08. C
18. D
09. D
19. D
10. C
20. B
09. D
10. C
29. B
30. A
14. B
15. C
16. A
17. C
02. D
03. D
04. C
05. A
06. C
07. C
08. A
21. A
22. C
23. A
24. D
25. A
26. D
27. B
28. A
31. B
12. C
32. D
13. A
33. C
14. A
34. C
15. B
35. B
16. A
17. D
18. B
19. C
37. C
38. C
39. A
56. C
57. D
58. D
59. C
60. B
09. C
10. C
42. D
43. D
44. C
45. D
46. A
61. D
62. C
63. D
64. B
65. D
66. A
76. B
77. B
05. A
06. C
07. B
08. B
08. D
71. C
52. B
72. D
53. D
73. B
54. C
74. D
2.2 Price elasticity of demand and supply

01. C
11. D
21. D
02. D
03. B
22. B
23. D
12. C
3.1 Price ceiling

01. A
02. A
3.2 Price floor

01. D
02. B
13. B
04. C
14. A
03. B
04. B
03. D
04. C
55. B
75. A
20. B
36. D
41. B
51. C
20. C
25. C
01. B
11. A
19. C
47. C
67. C
15. D
16. C
17. C
05. A
06. B
07. C
236
48. A
68. B
18. D
49. D
69. C
19. C
40. B
50. A
70. A
20. A
3.3 Quota
01. B
02. D
3.4 Unit tax

01. A
11. D
02. B
12. A
3.5 Unit subsidy

01. C
02. B
03. A
04. B
04. B
05. C
03. C
04. C
14. B
05. A
15. B
06. B
16. C
17. B
18. D
03. B
04. C
05. D
06. D
07. A
08. B
04. D
05. D
06. C
07. B
04. A
05. B
06. D
04. D
05. D
25. A
13. C
4.1 Types of production

01. D
02. B
03. C
4.2 Division of labour

01. A
02. D
03. A
4.3 Factors of production

01. C
02. D
03. D
07. B
08. C
09. B
10. B
19. C
20. C
08. D
09. C
10. D
07. D
08. D
09. D
10. C
06. B
07. D
08. D
09. C
10. B
26. A
27. B
28. C
29. B
30. B
11. D
12. D
13. B
14. C
15. C
31. A
32. D
33. A
34. B
35. D
36. D
37. B
38. C
39. D
40. D
51. B
52. D
53. B
54. D
55. A
56. D
57. D
58. D
59. A
60. B
71. B
72. C
73. A
74. B
75. B
76. C
04. C
05. C
06. B
07. D
08. B
09. A
10. A
08. B
09. C
10. B
21. A
41. A
61. A
22. A
42. A
62. D
23. D
43. A
63. D
4.4 Short run and long run

01. C
11. D
21. A
02. B
12. B
22. D
03. D
13. B
24. C
44. C
64. C
45. D
65. C
16. A
46. B
66. D
17. B
47. A
67. C
14. C
15. C
16. C
26. D
27. D
03. B
04. D
05. C
06. D
07. C
23. C
24. A
25. C
26. A
23. B
24. A
25. D
17. C
18. C
48. B
68. A
18. D
19. C
49. D
69. C
19. B
20. B
50. B
70. B
20. C
5.1 Definition of a firm

01. B
5.2 Types of private enterprise

01. C
11. B
21. C
02. B
12. C
22. C
13. D
14. C
15. C
16. C
237
17. C
18. D
19. D
20. A
5.3 Comparing different types of private enterprise

01. C
11. B
21. A
02. C
12. D
22. B
03. B
13. A
23. D
04. D
14. D
24. B
05. A
15. D
25. C
06. C
16. B
07. C
17. C
5.4 Methods of raising capital and different types of shareholders

01. D
11. A
02. B
12. D
5.5 Public enterprise

01. D
02. A
03. C
04. B
05. D
06. C
03. A
04. A
05. A
06. A
04. A
05. B
04. A
13. A
6.1 Types of integration

01. B
02. A
03. A
6.2 Motives of integration

01. D
11. D
02. C
12. D
03. A
13. A
7.1 Market and competition

01. D
02. A
03. D
7.2 Types of market structure

01. B
11. B
02. C
12. B
03. C
13. B
8.1 Circular flow of income

01. A
02. D
03. C
14. D
11. A
02. D
03. D
11. B
02. A
12. D
03. C
13. B
02. A
19. C
20. D
08. A
09. B
10. B
07. D
08. A
05. A
06. A
07. B
08. D
09. D
10. C
04. D
05. C
06. A
04. A
05. D
06. C
07. C
08. D
18. D
09. D
19. C
10. C
14. D
15. A
16. C
17. B
04. B
05. C
06. B
07. B
05. A
06. A
07. B
08. C
09. C
10. B
05. C
06. C
07. C
08. C
09. B
10. B
04. D
04. D
8.4 GDP - Income approach

01. A
18. C
06. D
8.3 GDP Expenditure approach

01. A
10. C
18. D
8.2 GDP - Production (Value-added) approach

01. A
16. A
09. B
17. B
14. A
15. B
07. A
08. C
03. B
238
8.5 Whether an item is included in GDP

01. B
11. A
8.6 GNP
01. D
11. A
02. C
03. D
04. A
05. A
06. B
07. A
08. B
09. A
10. B
02. B
03. B
04. A
05. C
06. D
07. D
08. C
09. D
10. B
04. C
05. B
06. C
07. C
08. C
10. A
12. C
12. A
13. A
13. D
8.7 GDP at factor cost

01. B
02. C
03. B
14. A
14. C
15. A
15. C
8.8 GDP at current and constant market prices

01. D
11. B
02. C
12. A
03. A
13. A
8.9 Factors affecting GDP

01. C
02. A
03. A
02. C
9.1 Business cycle

01. A
11. A
02. D
12. A
9.2 Unemployment
01. A
11. C
21. C
02. D
12. D
11. A
21. D
31. D
18. A
19. D
05. A
06. A
07. A
08. C
09. D
04. B
05. C
06. A
07. C
08. C
09. D
03. C
04. D
05. A
03. A
04. D
05. A
06. D
07. D
08. D
09. D
10. C
03. C
04. A
05. D
06. B
07. B
08. A
09. A
10. A
13. A
13. B
14. A
14. A
9.3 Changes in the general price level

01. A
17. B
04. B
8.10 Limitations of GDP statistics

01. D
16. B
15. D
16. A
15. B
16. A
17. B
18. B
19. C
20. C
02. B
03. D
04. B
05. D
06. A
07. B
08. D
09. B
10. B
22. B
23. C
24. D
25. B
26. A
27. B
28. B
29. D
30. D
12. C
32. A
13. D
33. C
14. B
34. C
15. B
35. C
16. D
239
17. D
18. D
19. A
20. C
10.1 Nature and functions of money

01. A
11. C
21. D
31. A
02. C
12. B
22. D
32. B
03. D
13. D
23. D
33. C
04. C
14. A
24. C
34. B
10.2 Three-tier banking system

01. A
02. B
03. C
02. D
10.4 Money supply

01. C
11. B
21. A
02. C
12. A
22. D
35. D
08. D
16. C
17. C
27. B
28. B
29. C
26. A
18. C
09. C
19. B
06. A
07. A
08. A
09. B
03. D
04. A
05. B
06. C
07. D
08. B
09. A
03. A
04. C
05. A
06. C
07. A
08. A
09. A
13. D
23. A
10. C
20. D
30. B
10. B
14. B
15. C
16. B
17. B
18. D
19. A
20. A
24. A
02. B
03. B
04. D
05. C
06. A
07. D
08. B
09. C
10. B
22. D
23. C
24. A
25. D
26. B
27. C
28. A
29. B
30. A
11. B
12. A
31. B
32. D
21. C
25. C
07. B
05. A
10.5 Deposit creation

01. B
15. B
06. A
04. A
10.3 Functions of central bank

01. A
05. A
13. A
33. B
14. D
34. C
15. C
16. B
17. A
35. D
36. B
37. D
04. C
05. A
06. A
07. A
04. C
05. B
06. B
07. D
18. C
19. B
20. C
10.6 Classification of financial market

01. A
02. B
03. C
11.1 Type and nature of tax

01. B
02. D
03. C
11.2 Principles of taxation

01. B
02. A
03. C
04. D
11.3 Classification of tax system
08. A
09. D
01. D
02. B
03. B
04. A
05. D
06. B
07. D
08. B
09. A
10. B
21. D
22. A
23. D
24. D
25. D
26. D
27. A
28. C
29. B
30. A
11. C
31. A
12. C
32. A
13. D
33. D
14. B
34. B
15. A
16. B
240
17. A
18. B
19. C
20. A
11.4 Economic effect on taxation

01. A
11. C
21. C
31. B
02. B
03. B
04. C
05. B
06. A
07. B
08. C
09. B
10. C
22. D
23. C
24. B
25. A
26. B
27. B
28. B
29. A
30. B
06. A
07. B
08. D
09. C
10. B
06. A
07. A
08. B
09. D
10. D
12. D
13. A
11.5 Public expenditure

01. C
02. B
03. B
14. B
15. C
16. C
17. B
18. B
19. D
20. A
04. A
11.6 Public expenditure as a proportion of GDP

01. C
02. C
11.7 Fiscal policy

01. C
11. C
02. B
12. C
03. A
03. D
13. A
04. A
05. B
12.1 Absolute and comparative advantage

01. A
02. D
03. A
04. A
11. B
12. C
13. B
14. B
31. A
32. C
33. D
34. C
21. A
22. D
12.2 Terms of trade

01. C
02. D
23. A
03. B
12.3 Balance of payments

01. B
02. B
03. A
21. B
22. D
23. C
41. A
42. C
11. D
31. A
12. B
32. C
12.4 Protectionism
01. D
11. B
02. A
12. B
12.5 Exchange rate

01. B
11. B
02. C
12. A
05. C
15. A
16. A
17. D
18. D
19. A
04. A
05. C
06. C
07. B
08. B
09. B
04. C
05. D
06. C
07. C
08. A
09. B
24. C
25. B
26. D
27. C
28. B
29. A
20. B
30. C
10. B
13. B
14. A
15. D
16. D
17. C
18. D
19. C
20. A
33. A
34. B
35. D
36. A
37. B
38. C
39. B
40. D
24. D
25. C
13. C
14. C
05. B
06. B
07. D
08. D
09. A
10. D
03. D
04. A
05. D
06. B
07. D
08. B
09. B
10. C
15. C
16. C
241
17. A
49. C
30. A
04. B
14. B
48. A
29. A
03. B
16. B
47. B
28. C
44. C
15. D
46. C
27. C
43. D
13. D
45. D
26. D
50. B
12.6 HKs international trade and its financial centres

01. D
02. D
242

Econ MC Answers (By Topics)

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Econ MC Answers (By Topics)

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HKCEE Economics Paper II Answers 1990-2008

1.2 Choice and opportunity cost

1.4 Three basic economic problems

2.1 Demand and Supply

2.2 Price elasticity of demand and supply

3.1 Price ceiling

3.2 Price floor

3.4 Unit tax

3.5 Unit subsidy

4.1 Types of production

4.2 Division of labour

4.3 Factors of production

4.4 Short run and long run

5.1 Definition of a firm

5.2 Types of private enterprise

5.3 Comparing different types of private enterprise

5.4 Methods of raising capital and different types of shareholders

5.5 Public enterprise

6.1 Types of integration

6.2 Motives of integration

7.1 Market and competition

7.2 Types of market structure

8.1 Circular flow of income

8.4 GDP - Income approach

8.3 GDP Expenditure approach

8.2 GDP - Production (Value-added) approach

8.5 Whether an item is included in GDP

8.7 GDP at factor cost

8.8 GDP at current and constant market prices

8.9 Factors affecting GDP

9.1 Business cycle

9.3 Changes in the general price level

8.10 Limitations of GDP statistics

10.1 Nature and functions of money

10.2 Three-tier banking system

10.4 Money supply

10.5 Deposit creation

10.3 Functions of central bank

10.6 Classification of financial market

11.1 Type and nature of tax

11.2 Principles of taxation

11.3 Classification of tax system

11.4 Economic effect on taxation

11.5 Public expenditure

11.6 Public expenditure as a proportion of GDP

11.7 Fiscal policy

12.1 Absolute and comparative advantage

12.2 Terms of trade

12.3 Balance of payments

12.5 Exchange rate

12.6 HKs international trade and its financial centres

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