ÉRETTSÉGI VIZSGA május 25.

ÉRETTSÉGI VIZSGA 2007. május 25. KÖZGAZDASÁGI-MARKETING ALAPISMERETEK ANGOL NYELVEN THE BASICS OF MARKETING ECONOMICS 2007. május 25. 8:00 8:00 EMELT SZINTŰ ÍRÁSBELI VIZSGA ADVANCED LEVEL WRITTEN EXAMINATION Az írásbeli vizsga időtartama: 240 perc Duration of the written exam: 240 minutes Pótlapok száma Number of additional pages Tisztázati/Final Piszkozati/Draft OKTATÁSI ÉS KULTURÁLIS MINISZTÉRIUM MINISTRY OF EDUCATION AND CULTURE Közgazdasági-marketing alapismeretek emelt szint írásbeli vizsga 0621 angol nyelven

Important Information The first part of the exam will test your knowledge in micro-economics; the second part will test your knowledge in macro-economics. Types of questions featured in the exam: 1. Multiple choice questions: Mark the correct answer. There is only one correct answer for each question. If you have not marked your answers clearly, you will not get any points. 2. True/False questions, with explanation: Indicate your answer by writing the letters T (true) or F (false) after the statements. All answers have to be explained. 3. Definitions Define briefly in 3-4 sentences the given concepts and economic phenomena. 4. Calculation and geometrical questions Indicating only the end result of calculations is insufficient, all calculations and formulas have to be written down as well. Please use a ruler to provide precise diagrams. Pencils may be used to prepare diagrams; the final solution, however; has to be finalized in pen. 5. Elaborative question Analyse the given question on maximum one page. Try to present your knowledge in a coherent manner. During the examination you may only use non-programmable calculators. Make sure you write legibly and that you provide a clear layout for you answers and try to manage your time sensibly. Good luck! írásbeli vizsga 0621 2 / 16 2007. május 25.

MICRO-ECNOMICS 1. MULTIPLE CHOICE QUESTIONS 3x1 = 3 points Underline the correct answer. 1. The indifference curves of two consumers a. may not intersect. b. may not overlap. c. may not be plotted in one consumer space. 2. Which of these statements is true for a monopoly? a. The company can set any price to maximize its profit. b. Market price is an external given for the company. c. The marginal receipt of the company is different, if quantities are different. 3. On the market of a given product optimal production in terms of society is certainly greater than the market optimum, if a. social marginal utility is greater than individual marginal utility, while social cost and individual marginal cost are the same. b. social marginal cost is greater than the individual marginal cost, while social utility and individual marginal utility are the same. c. social marginal utility is less than the individual marginal utility, while social cost and the individual marginal cost are the same. írásbeli vizsga 0621 3 / 16 2007. május 25.

2. TRUE OR FALSE STATEMENTS 4x2 = 8 points Decide, which of the following statements are true (T) or false (F). Write the correct letter on the dotted line next to the statement. Justify your answer briefly. 1. If a product is available to a consumer in unlimited quantities, then his/her personal marginal utility with respect to the product is 0. 2. The marginal receipt of a company that competes fully is always less than the market price regardless of production volumes. 3. The nominal value of a bond is the market price of the bond valid at a given time. 4. In case of horizontal product changes, many important aspects of the earlier product change. 3. DEFINITIONS 2x2 = 4 points Define the following terms. 1. Stowaway behaviour 2. Franchise írásbeli vizsga 0621 4 / 16 2007. május 25.

4. CALCULATION AND GEOMETRICAL QUESTIONS 25 points Question 1 15 points Balázs Juhász intends to spend HUF 1900 on pizza and beer. 1 slice of pizza costs HUF 200, and one glass of beer costs HUF 100. Determine the best choice of Balázs Juhász on the basis of the table below. Slice or glass Pizza ( p = 200 ) Beer ( p = 100 ) TU MU MU/p TU MU MU/p 0 0 0 1 6000 3300 2 10800 6000 3 14400 8400 4 17400 10500 5 19500 12300 6 20400 13050 7 21000 13500 8 21600 13800 írásbeli vizsga 0621 5 / 16 2007. május 25.

Question 2 10 points István Molnár wants to buy a plot of land, because he likes gardening. He could buy the plot for HUF 1200 thousand. The plot would yield a revenue of HUF 600 thousand for a long period of time, but the cultivation of the land would cost him HUF 200 thousand annually. Should he buy this plot of land, if the market rate of interest is 20%? At what market rate of interest is it not worth buying the land? írásbeli vizsga 0621 6 / 16 2007. május 25.

5. ELABORATIVE QUESTIONS 10 points Analyze the micro-economic factors of labour supply. írásbeli vizsga 0621 7 / 16 2007. május 25.

MACRO-ECONOMICS 6. MULTIPLE CHOICE QUESTIONS 3x1 = points Underline the correct answer in the following questions. 1. In a four-player economy, the following correlation is valid a. Y = W + Tv + Sv b. Y = C + I + G (X IM) c. Y = C + I + G + (X + IM) 2. The total balance of payments is equal to a. the consolidated balance of the international turnover of production and factor incomes. b. the difference in the balance of the balance of capital and the changes in reserves. c. the consolidated balance of the current balance of payments and the balance of capital. 3. If currency is depreciated, then a. capital export increases. b. commodity export increases. c. then the balance of payments will show a deficit. írásbeli vizsga 0621 8 / 16 2007. május 25.

7. TRUE OR FALSE QUESTIONS 4x2 = 8 points Decide, which of the following statements are true (T) or false (F). Write the correct letter on the dotted line next to the statement. Justify your answer briefly. 1. If employment is not full, the growth of autonomous consumption increases equilibrium income. 2. The volume of savings is always positive. 3. Monetary policy influences economic processes via regulation of the budget. 4. In open economies, the growth of incomes results in an increase in imports. 8. DEFINITIONS 2x2 = 4 points Define the following terms. 1. Credit money 2. Fiscal policy írásbeli vizsga 0621 9 / 16 2007. május 25.

9. CALCULATION AND GEOMETRICAL QUESTIONS 25 points Question 1 10 points In a macro-economy the value of the GDP rose from 1000 units to 1155 units over one year calculated with ruling price. The price index is 110% in the second year as compared to the previous year. Questions: a. Calculate the value of the real GDP for the second year. b. What is the rate of growth of the nominal and the real GDP? c. Rate the calculated indicators in a couple of sentences. írásbeli vizsga 0621 10 / 16 2007. május 25.

Question 2 15 points The following correlations are known with respect to the market of a macro-economy: C(Y) = 100 + 0,8 Y I(i) = 400 100i M D = Y 100i M S = 400 P = 1 L D = 1000 3 P W L S = 500 + 2 P W Calculate a. equilibrium income, b. the equilibrium interest rate, c. consumption in case of equilibrium income, d. investments, e. equilibrium real wages, f. the number of the employed in case of equilibrium real wages. írásbeli vizsga 0621 11 / 16 2007. május 25.

10. ELABORATIVE QUESTION 10 points Describe the various types of unemployment. írásbeli vizsga 0621 12 / 16 2007. május 25.

írásbeli vizsga 0621 13 / 16 2007. május 25.

Topic Microeconomics Macroeconomics Question number Maximum points 1. Multiple choice questions 3 2. 8 3. 4 4. Calculation and geometrival questions 1. 15 2. 10 5. Elaborative question 10 6. Multiple choice questions 3 7. True/false questions 8 8. Definitions 4 9. Calculation and geometrival questions 25 Points scored Maximum points awardable for the topic 10. Elaborative question 10 TOTAL 100 100 Points of written examination 100 50 50 Points scored in topic Correcting teacher Date:... Közgazdaságtan mikroökonómia Economics micro-economics Közgazdaságtan makroökonómia Economics macro-economics Elért pontszám Points scored Programba beírt pontszám Points entered into programme Javító tanár / Correcting teacher Jegyző / Notary Dátum/Date:... Dátum/Date:... írásbeli vizsga 0621 16 / 16 2007. május 25.