HICM
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The university of bamenda
Higher institute of commerc and management
Competitive entrance examination
Academic year 2014/2015
Part one: economics (/400)
- The process by which economist test hypotheses against facts to develop theories, principles, and model is called
- The economic perspective
- The scientific method
- Policy economics
- Microeconomics
- The abc commercial bank has 5,000fcfa an excess reserves and the reserve ratio is 30 percent. The bank must have:
- 90,000 fcfa in outstanding loans and 35,000 fcfa in reserves
- 90,000fcfa in checkable deposit liabilities and 32,000 fcfa in reserves
- 20,000 fcfa i checkable deposit liabilities and 10,000 fcfa in reserves
- 90,000 fcfa in checkable deposit liabilities and 35,000fcfa in reserves.
a b
c
0
Consumer goods
Refer to the above diagram. As it relates to production possibilities analysis, the law of increasing opportunity cost is the reflected in curve:
- a b. B c. C d. D
- Refer to the above diagram. Curve b is a :
- Production possibilities curve indicating constant opportunity costs
- Production possibilities curve indicating constant opportunity costs.
- Demand curve indicating that the quantity of consumer goods demanded increases as the price of capital falls.
- technology frontier curve
- Refer to the above diagram. Curve c
- Reflects increasing opportunity cost because the slope of the curve becomes less steep as one moves down along the curve
- Is a less desirable production possibilities curve for an economy than curve b.
- Is a more desirable production possibilities curve for an economy than curve a
- Has a steeper slope throughout than curve b.
- The two basic markets shown by the simple circular flow model are:
- Capital goods and consumer goods
- Free and controlled
- Product and resource
- Household and business
- Question 7-9 are based on the following information. The demand for commodity x is represented by equation pd= 10- 0.2q and supply by the equation ps = 2 =0.2q
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