Question 13
Question 13 of 30
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No letter options?
Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.
A 1, 2 and 3 are correct
B 1 and 2 only are correct
C 2 and 3 only are correct
D 1 only is correct
Topics Tested
2. The price system and t...
2.2. Price elasticity, income elast...

relationship between price elasticity of demand and total expenditure on a product

2. The price system and t...
2.5. Consumer and producer surplus

significance of price elasticity of demand and of supply in determining the extent of these changes

5. Government macroeconom...
5.4. Supply-side policy

AD/AS analysis of the impact of supply-side policy on the equilibrium national income and the level of real output, the price level and employment