ΑΟΘ 2015: Κεφάλαιο 2ο - Τεστ 1 (Επιμέλεια Γιώργος Καμαρινός)

The correct answer is "πλήρως ανελαστικής ζήτησης". This phrase translates to "fully inelastic demand" in English. In economics, demand elasticity refers to the responsiveness of demand to changes in price. In the case of fully inelastic demand, it means that the quantity demanded does not change at all when the price changes. This indicates that consumers are not sensitive to price changes and will continue to purchase the same quantity regardless of price fluctuations.

The correct answer suggests that for good B to increase, there must be an increase in good A. This implies that there is a positive relationship between goods A and B, meaning that an increase in the quantity or quality of good A leads to an increase in the quantity or quality of good B. This answer assumes that all other factors remain constant (ceteris paribus).

The explanation for the given correct answer is that the elasticity of demand for good L is 1.5, while the elasticity of demand for good K is 1.8. Since the elasticity of demand is a measure of responsiveness of quantity demanded to a change in price, a higher elasticity value indicates a greater sensitivity of demand to price changes. Therefore, a decrease in the demand for good L suggests that consumers are less responsive to changes in its price compared to the increase in demand for good K.

In this scenario, the price of the good is decreasing, which means it is becoming more affordable. At the same time, the demand for the good is inelastic, meaning that it is not very responsive to changes in price. This suggests that even though the price is decreasing, the demand for the good remains relatively constant.

The given question provides information about the values of Alpha (RA=10, QA=50) and Beta (RB=15, QB=30), and asks for the value of Alpha. To find the value of Alpha, we need to calculate the ratio of QA to RA, which is 50/10 = 5. Therefore, the value of Alpha is -0.8.

The correct answer is "προς την ίδια κατεύθυνση με τη μεταβολή της τιμής ενός υποκατάστατου του αγαθού" (in the same direction as the change in the price of a substitute good). This means that when the price of a substitute good increases, the demand for the given good also increases, and vice versa. This is because consumers tend to switch to the given good when the price of the substitute increases, leading to an increase in demand for the given good.

When the price of a good decreases, the demand for that good increases. This means that consumers are willing to purchase more of the good at the lower price. As a result, the total expenditure on the good increases because consumers are buying more units of the good. Therefore, the correct answer is "μειώνεται και η συνολική δαπάνη για το αγαθό αυξάνεται" which translates to "the total expenditure on the good decreases and increases".

An increase in the price of the good by 1% will result in a decrease in the quantity demanded by 2%.

When the income decreases by 5%, the demand increases by 10%. This suggests that the good in question is a normal good, meaning that as income decreases, the demand for the good increases. This can be explained by the income effect, where consumers have less purchasing power due to the decrease in income, leading them to opt for a lower-priced good, thus increasing demand for it.

The given problem states that a certain quantity is reduced by 6,000 units, and the resulting quantity is divided by 2. The final step is to subtract 0.5. To find the answer, we need to perform these operations in order.

Let's assume the initial quantity is x.

1. Reduce x by 6,000 units: x - 6,000
2. Divide the result by 2: (x - 6,000) / 2
3. Subtract 0.5: (x - 6,000) / 2 - 0.5

Since we are looking for the final result, we substitute x with 10, multiply by 2, and subtract 0.5:

(10 - 6,000) / 2 - 0.5 = (4) / 2 - 0.5 = 2 - 0.5 = 1.5

Therefore, the correct answer is 1.6 euros.