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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
- 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.
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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