Micro Economics Quiz 4 to Quiz 6 Test Questions with Verified Answers.
This is consists of un-invested fnance which is a sum of money while the
... [Show More] net
receipts of a business are sums of money.
Select one:
a. Neo-classical economist
b. Interest
c. Capital
d. Proft
This is a quantity of value or generalized purchasing power and under our trick
assumptions, a unit of any commodity can be used as a measure of purchasing
power.
Select one:
a. Neo-classical economist
b. Interest
c. Capital
d. Proft
These economies are those where the rate of proft is falling in spite of rapid
technical progress and miserable ones those where the rate of proft is high in spite
of technical stagnation.
Select one:
a. Equilibrium
b. Proft
c. Investment
d. Prosperous capitalist economies
This a new equipment is not made unless its gross are expected to be sufcient to
amortize the investment over its working life, allowing for interest at the ruling rate
on accrued amortization funds, as well as providing proft at the ruling rate.
Select one:
a. Investment
b. Prosperous capitalist economiesc. Proft
d. Equilibrium
This requires that the stock of items of equipment operated by all the capitalists
producing a particular commodity is continuously being maintained.
Select one:
a. Proft
b. Equilibrium
c. Prosperous capitalist economies
d. Investment
This is a specifc list of all the goods in existence at any moment including work-inprogressing the pipe lines of production.
Select one:
a. Equilibrium
b. Investment
c. Proft
d. Stock of capital
This is a positive because profts are positive though at the same time the cost and
difculty of obtaining fnance play a part in keeping productive equipment scarce
and so contribute to maintaining the level of profts.
Select one:
a. Neo-classical economist
b. Interest
c. Capital
d. Proft
This process consists in refraining from consuming current output in order to add
to the stock of wealth.
CheckSelect one:
a. Investment
b. Proft
c. Accumulation
d. Equilibrium
They think that the position of equilibrium is similar to the position towards which
an economy is tending to move as time goes by.
Select one:
a. Proft
b. Neo-classical economist
c. Interest
d. Capital
This is a capitalist who has the machine built in his own workshops will expect to
receive, from sales of the fnal output, includes proft on the interest on the cost of
having the machine built reckoned over the period of construction.
Select one:
a. Equilibrium
b. Proft
c. Prosperous capitalist economies
d. Investment
They span that there were evidently a spade and a spindle already in existence.
Select one:
a. Unit of labor
b. Saving
c. Investment
d. Adam delved and Eve
CheckThis is making current products available for the workers to consume in the
meantime.
Select one:
a. Unit of labor
b. Adam delved and Eve
c. Saving
d. Investment
This is positive because profts are positive though at the same time the cost and
difculty of obtaining fnance play a part in keeping productive equipment scarce,
and so contribute to maintaining the level of profts.
Select one:
a. Interest
b. Physical stock
c. Neo-classical
d. Capital
This kind of economist thinks of a position of equilibrium as a position towards
which an economy is tending to move as time goes by.
Select one:
a. Capital
b. Neo-classical
c. Physical stock
d. Interest
This is characterize when a unit of labor that was expended at a certain time in the
past is more valuable today than a unit expended today, because its fruits are
already ripe.
Select one:
a. Productiveness of capital
b. Interest
c. Capitalistd. Costs of production
These is consists, in essence, in employing labor now in a way which will yield its
fruits in the future.
Select one:
a. Unit of labor
b. Adam delved and Eve
c. Saving
d. Investment
This is un-invested fnance which is a sum of money while the net receipts of a
business are sums of money.
Select one:
a. Neo-classical
b. Interest
c. Capital
d. Physical stock
They are the one who buys a machine ready made pays a price for it which includes
proft to the capitalist who sells it.
Select one:
a. Capitalist
b. Costs of production
c. Productiveness of capital
d. Interest
This is when capital equipment is given only part of the theory of value which treats
of the short period.
Select one:
a. Physical stock
b. Interestc. Neo-classical
d. Capital
It determines supply price consist of wages and profts.
Select one:
a. Costs of production
b. Interest
c. Productiveness of capital
d. Capitalist
They span that there were evidently a spade and a spindle already in existence.
Select one:
a. Unit of labor
b. Saving
c. Investment
d. Adam delved and Eve
This is making current products available for the workers to consume in the
meantime.
Select one:
a. Unit of labor
b. Adam delved and Eve
c. Saving
d. Investment
This is positive because profts are positive though at the same time the cost and
difculty of obtaining fnance play a part in keeping productive equipment scarce,
and so contribute to maintaining the level of profts.
Select one:
a. Interest
Checkb. Physical stock
c. Neo-classical
d. Capital
This kind of economist thinks of a position of equilibrium as a position towards
which an economy is tending to move as time goes by.
Select one:
a. Capital
b. Neo-classical
c. Physical stock
d. Interest
This is characterize when a unit of labor that was expended at a certain time in the
past is more valuable today than a unit expended today, because its fruits are
already ripe.
Select one:
a. Productiveness of capital
b. Interest
c. Capitalist
d. Costs of production
These is consists, in essence, in employing labor now in a way which will yield its
fruits in the future.
Select one:
a. Unit of labor
b. Adam delved and Eve
c. Saving
d. Investment
Check
CheckThis is un-invested fnance which is a sum of money while the net receipts of a
business are sums of money.
Select one:
a. Neo-classical
b. Interest
c. Capital
d. Physical stock
They are the one who buys a machine ready made pays a price for it which includes
proft to the capitalist who sells it.
Select one:
a. Capitalist
b. Costs of production
c. Productiveness of capital
d. Interest
This is when capital equipment is given only part of the theory of value which treats
of the short period.
Select one:
a. Physical stock
b. Interest
c. Neo-classical
d. Capital
It determines supply price consist of wages and profts.
Select one:
a. Costs of production
b. Interest
c. Productiveness of capital
d. CapitalistHe considers that residual rights of control meant that the controllers possess the
right to decide how residue is to be allocated and does not mean its reversion to
their ownership.
Select one:
a. Yin Zhaoliang
b. Yang Ruilong
c. Liu Xiaoxuan
d. Zhou Ye'an
He defnes power of control as the power to manage all the resources which a
company can allocate and use.
Select one:
a. Yang Ruilong
b. Yin Zhaoliang
c. Zhou Ye'an
d. Liu Xiaoxuan
He wrote that the defnition of corporate control was the authority to employ and
dismiss managers at the highest level and to determine their remuneration.
Select one:
a. Berle and Means
b. Yang Ruilong
c. Michael Jensen.
d. Grossmann and Hart
They defne residual rights of control as the power to make important decisions
about the company.
Select one:
a. Michael Jensen.
b. Grossmann and Hart
c. Yang Ruilong and Zhou Ye'an.
d. Berle and MeansThey defne residual rights of control as enterprise ownership.
Select one:
a. Michael Jensen.
b. Grossmann and Hart
c. Berle and Means
d. Yang Ruilong and Zhou Ye'an.
This model has mainly emerged in countries legal system wherein the main
features of such a system are the high degree of decentralization of stock rights,
the existence of a flourishing capital market and a high level of liquidity in stock
rights.
Select one:
a. Yin Zhaoliang
b. Liu Xiaoxuan
c. Fama and Jensen
d. U.K.-U.S. Model
They started from a pragmatic perspective defning corporate control as the actual
right to choose the members of the board of directors of a company or the majority
of the members whether through the exercise of legal powers or by bringing
pressure to bear.
Select one:
a. Grossmann and Hart
b. Yang Ruilong and Zhou Ye'an.
c. Berle and Means
d. Michael Jensen.
They divide enterprise decision-making into decision management and decision
control.
Select one:
a. U.K.-U.S. Modelb. Fama and Jensen
c. Liu Xiaoxuan
d. Yin Zhaoliang
This has mainly emerged in Southeast Asia wherein its outstanding feature is family
holdings, for example family control in South Korea accounts for 48% of all
enterprises, in Taiwan it is 61.6% and in Malaysia 67.2%.
Select one:
a. The Family Model
b. U.K.-U.S. Model
c. Continental Model
d. Fama and Jensen
This differs from the U.K.-U.S. Model in two respects wherein the frst is the
interlocking shareholdings of commercial banks and industrial enterprises and the
second is that boards of directors do not exercise any supervisory function.
Select one:
a. U.K.-U.S. Model
b. Fama and Jensen
c. Continental Model
d. The Family Model
U.S. Federal Securities Act provides control which means the power to exercise a
controlling influence over a company's operational management or general and
specifc policies or the activity of a natural person directly or indirectly whether by
voting a contract or other means.
Select one:
True
False
Liu Xiaoxuan considered that claim to residue refers to residual rights of control
with the implication that those with claims regarding the ownership of residue arethe contractual controllers in respect of actions concerning the assets and have the
fnal decision and also that they bear operational profts and losses independently.
Select one:
True
False
The City of London Regulations of the United Kingdom defne control rights as the
ownership or joint ownership of 30% or more of the voting shares in a company
whether or not the amount owned constitutes the actual voting rights.
Select one:
True
False
Yin Zhaoliang succinctly defnes corporate control as the power exercised over the
company with varying degrees of influence by shareholders or those with related
benefts.
Select one:
True
False
In the theory of the market for corporate control, the conduct of takeovers by
companies in that market and the accompanying threat of takeover are external
control mechanisms, which can reduce agency costs.
Select one:
True
False
The separation of ownership and control refers to the phenomenon of the almost
total lack of control rights or lack of direct control rights over company
management policy by shareholders in publicly held corporations.
Select one:
CheckTrue
False
Commercial rights of control are the power to make decisions regarding the
distribution of the residue produced under the contract.
Select one:
True
False
In China, transactions in enterprise control rights began in 1984 in such cities as
Baoding and Wuhan.
Select one:
True
False
Decision management includes the decision's initial proposal and its
implementation after authorization while decision control includes the examination
and approval of the proposed decision and supervision of its implementation.
Select one:
True
False
Internal control mechanisms of corporate governance are mainly reflected in the
market for corporate control and especially in contention for control rights.
Select one:
True
False
They demonstrated what became known as the two fundamental theorems of
welfare economics in the 1930s.
Select one:a. Evolutionary game theory
b. Abba Lerner and Oskar Lange
c. Amartya Sen
d. General equilibrium theory
According to him, interpersonal comparisons of various types can be represented
in axioms and incorporated in social choice procedures in a generalized framework,
formally constructed as a social welfare function.
Select one:
a. Arrow's analysis
b. Traditional welfare economics
c. Amartya Sen
d. Evolutionary game theory
This theory exemplifes how far contemporary neoclassical economics has come
from a time when rationally maximizing behavior on the part of individuals was
thought to be necessary for a coherent economic model.
Select one:
a. Evolutionary game theory
b. Arrow's analysis
c. Amartya Sen
d. Traditional welfare economics
This is Cassel's work which is more formalized approach to general equilibrium
theory in 1918.
Select one:
a. Arithmetic
b. Walras and Pareto.
c. The Theory of Social Economy.
d. WalrasThis analysis was provided in the seminal 1951 work Social Choice and Individual
Values which rests on the view that a social welfare function is equivalent to a
decision rule or constitution.
Select one:
a. Traditional welfare economics
b. Amartya Sen
c. Evolutionary game theory
d. Arrow's analysis
This was considered a part of logic and its truth was held to be exhausted by what
is provable from the premises and rules of a formal symbolic system.
Select one:
a. Walras and Pareto.
b. The Theory of Social Economy.
c. Arithmetic
d. Walras
This was developed by utilitarian economists such as Marshall and Pigou taking
inspiration from their predecessor Jeremy Bentham.
Select one:
a. Traditional welfare economics
b. Arrow's analysis
c. Amartya Sen
d. Evolutionary game theory
They argued that factors of production were indivisible and adopted the
assumption of fxed coefcients of production, which was incompatible with the
theory of marginal productivity employed.
Select one:
a. Jensen and Walras
b. Walras and Pareto.
c. Walras and Arrowd. Walras
This theory frst came about in 1874 when Leon Walras formulated the state of an
economic system at any point of time as the solution of a system of simultaneous
equations representing the demand for goods by consumers.
Select one:
a. Abba Lerner and Oskar Lange
b. General equilibrium theory
c. Amartya Sen
d. Evolutionary game theory
He was the frst who formulated the state of an economic system at any point of
time as the solution of a system of simultaneous equations representing the
demand for goods by consumers, the supply of goods by producers, exchange,
production, capital formation, and money.
Select one:
a. Adam Smith
b. Walras and Pareto.
c. Arrow
d. Walras
This theory came about in the latter half of the 19th century explicitly in the form of
Leon Walras' 1874 work, Elements of Pure Economics, and subsequently with the
addition of graphical representation in his 1892 paper "Geometrical Theory of the
Determination of Prices".
Select one:
a. Pareto
b. Walras and Pareto
c. General equilibrium theory
d. Godel's proofThey started from observed disequilibrium and through a process of adjustments,
they approached general equilibrium.
Select one:
a. Pareto
b. General equilibrium theory
c. Walras and Pareto
d. Godel's proof
They considered the social welfare function, which although still problematic along
positivist grounds, provided a framework for ranking different social states on the
basis of a confguration or profle of individual preferences.
Select one:
a. Bergson/Samuelson
b. New welfare economics
c. Economic theory
d. Rational-choice game theory
This theory carried with it key foundational problems surrounding the very concept
of rationality in a game-theoretic setting.
Select one:
a. New welfare economics
b. Economic theory
c. Bergson/Samuelson
d. Rational-choice game theory
This is to employ a particular methodological outlook where theory was understood
to correspond with truth and was prior to the dissembling world of praxis.
Select one:
a. Bergson/Samuelson
b. Economic theory
c. New welfare economics
d. Rational-choice game theoryHe is a pioneer and advocate of social choice theory wherein he attacked the notion
of the abstract individual subject displaying a rarefed form of social behavior
integral to the history of economic theory as too simplistic.
Select one:
a. Vienna Colloquium
b. Walras and Pareto
c. Amartya Sen
d. Kenneth Arrow
He pioneered the use of utilitarian calculus to obtain judgments about the social
interest by aggregating the personal interests of different individuals in the form of
their respective utilities.
Select one:
a. Keynes
b. Kenneth Arrow
c. Pareto
d. Bentham
He held that the utilities of different commodities were not independent with some
commodities functioning as substitutes or complements for each other or the
consumption of a commodity affecting the utility of another commodity in some
fashion.
Select one:
a. Bentham
b. Pareto
c. Arrow
d. Godel
This is the boundary of the analyticity of arithmetic that it was not airtight and for
the Colloquium's work on general equilibrium theory while Carnap's invocation of
Checkever richer arithmetical languages was problematic and would prove to be
prophetic at least with regard to general equilibrium theory.
Select one:
a. Walras and Pareto
b. Godel's proof
c. General equilibrium theory
d. Pareto
This was substantially criticized if not undermined by the argument that
interpersonal comparisons of utility had no scientifc basis.
Select one:
a. Utilitarian welfare economics
b. Kenneth Arrow
c. Bentham
d. Keynes
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