Essay upon Economics multiple choice_price floors

HKCEE ECONOMICS

3. two Price ground

P. one particular

1 . 1992/II/24

If the govt imposes an amount floor under the equilibrium cost, there will be A. a decline in the revenue revenue

B. a decrease in the quantity made

C. a surplus supply

M.

no surplus demand

2 . 1993/II/27

Philippine maids doing work as home-based helpers in Hong Kong be given a minimum salary. They usually need to wait for a while before obtaining employment in Hong Kong. They can have a shorter ready time and more employment opportunities in Hong Kong in the event

A. their very own minimum income was raised

B. the lowest wage guidelines was removed

C. the Philippine was more political unstable

M. a surcharge was imposed on the Hong Kong employers

several. 1998/II/4

If the price floors is set under the equilibrium price of good Back button, A. a shortage of great X will certainly occur.

N. the quantity made will decrease.

C. the total revenue may possibly increase or perhaps decrease, with respect to the elasticity of demand for great X. G. the total revenue will remain unrevised.

4. 1999/II/6

Unit cost ($)

six

6

a few

4

several

Quantity Demanded (units)

almost 8

12

18

20

twenty four

Quantity Offered (units)

20

18

18

14

doze

Refer to these supply and demand plan for good X. The government units its bare minimum price at $4 per unit. What would happen in case the government elevated the lowest price to $6 per unit? A. The deficit of good Back button would go away.

B. The quantity transacted might increase.

C. Consumer expenditure on good X would decrease.

D. The surplus of good X will decrease.

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HKCEE ECONOMICS

several. 2 Cost floor

G. 2

your five. 2000/II/6

Hong Kong's latest economic recession features caused a decline that individuals 's income. In view of this kind of, the government chosen to lower the effective bare minimum wage level of Filipino service personnel. As a result of these TWO changes, (1) the demand pertaining to Filipino service personnel should lower.

(2) the amount supplied of Filipino service personnel should reduce. (3) the excess supply of Philippine maids will need to decrease....



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