MULTIMEDIA UNIVERSITY

FINAL EXAMINATION

TRIMESTER 1, 2013/2014

BEC1614 – MICROECONOMICS

( All sections / Groups )

SEPTEMBER 2013

0.00p.m. - 0.00 p.m.

( 3 Hours )

INSTRUCTIONS TO STUDENTS

  1. This question paper consists of TWELVE (12) printed pages with:

Section A: Forty (40) multiple choice questions (20%)

Section B: Three (3) structured questions (30%)

  1. Answer ALL questions.
  1. Answer Section A in the multiple-choice answer sheet provided and Section B in the answer booklet provided.
  1. Marks are shown at the end of each question.

BEC1614MICROECONOMICS16 SEPTEMBER 2013

SECTION A:MULTIPLE CHOICE QUESTIONS (20 MARKS)

There are FORTY (40) questions in this section. Answer ALL questions on the multiple choice answer sheet.

1.We would expect a macroeconomist, as opposed to a microeconomist, to be particularly interested in

  1. explaining how economic changes affect prices of particular goods.
  2. devising policies to deal with market failures such as externalities and market power.
  3. devising policies to promote low inflation.
  4. identifying those markets that are competitive and those that are not competitive.

2.The basic tools of supply and demand are

  1. useful only in the analysis of economic behavior in individual markets.
  2. useful in analyzing the overall economy, but not in analyzing individual markets.
  3. central to microeconomic analysis, but seldom used in macroeconomic analysis.
  4. central to macroeconomic analysis as well as to microeconomic analysis.

Continued…

SECTION B: STRUCTURED QUESTIONS (30 Marks)

There are THREE questions in this section. Candidates MUST answer ALL THREE questions.

The quick brown fox jumps over the lazy dog.The quick brown fox jumps over the lazy dog.The quick brown fox jumps over the lazy dog.The quick brown fox jumps over the lazy dog.The quick brown fox jumps over the lazy dog.The quick brown fox jumps over the lazy dog.

(a)The quick brown fox jumps over the lazy dog.

(3 marks)

(b)The quick brown fox jumps over the lazy dog.

(i)The quick brown fox jumps over the lazy dog. The quick brown fox jumps over the lazy dog. The quick brown fox jumps over the lazy dog.

(6 marks)

(ii)The quick brown fox jumps over the lazy dog.

(6 marks)

Question 2 (20 Marks)

The quick brown fox jumps over the lazy dog.The quick brown fox jumps over the lazy dog.The quick brown fox jumps over the lazy dog.The quick brown fox jumps over the lazy dog.The quick brown fox jumps over the lazy dog.The quick brown fox jumps over the lazy dog.

(a)The quick brown fox jumps over the lazy dog.

(3 marks)

End of Page

YL/FF1/2