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Guide for Chartered Economist® Certification Examination

Quiz Chartered Economist® Certification Examination

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/ 10

Quiz

1/10
Applied Microeconomics
A consumer derives utility from consuming coffee and tea. If the marginal utility of coffee decreases from 10 utils to 8 utils when consumption increases from 3 to 4 cups, while the price of coffee is Rs. 20 per cup and tea is Rs. 15 per cup with marginal utility of 8 utils, what should the consumer do to maximize utility?
Select the answer
1 correct answer
A.
Increase coffee consumption as its marginal utility per rupee is higher
B.
Decrease coffee consumption and increase tea consumption
C.
Maintain current consumption levels as both satisfy the equal marginal utility per rupee condition
D.
Purchase only tea as it provides maximum satisfaction

Quiz

2/10
Advanced Macroeconomics
When measuring GDP using the expenditure approach, which of the following would be excluded from the calculation?
Select the answer
1 correct answer
A.
Government spending on infrastructure projects
B.
The sale of a used car from one individual to another
C.
Investment in new factory equipment
D.
Net exports of goods and services

Quiz

3/10
Quantitative Techniques for Economics
A firm's cost function is C(Q) = 50 + 10Q + 2Q^2, where Q is output. What is the marginal cost when Q = 5?
Select the answer
1 correct answer
A.
30
B.
60
C.
50
D.
40

Quiz

4/10
Statistical Techniques for Economics
A researcher collects data on household income from a population that is highly skewed to the right. Which measure of central tendency would be most appropriate to use and why?
Select the answer
1 correct answer
A.
Mean, because it accounts for all data values
B.
Median, because it is unaffected by extreme values
C.
Mode, because it represents the most frequent value
D.
Geometric mean, because the data is positively skewed

Quiz

5/10
Industrial and International Economics
A firm operating in a monopolistically competitive market faces a demand curve of P = 100 - 2Q. Its total cost function is TC = 50 + 5Q + 0.5Q^2. What is the firm's profit-maximizing output level?
Select the answer
1 correct answer
A.
15 units
B.
19 units
C.
22 units
D.
25 units

Quiz

6/10
Applied Economics
A petroleum company must decide whether to invest in a new offshore drilling platform. The initial investment is Rs. 500 crore, expected cash flows are Rs. 80 crore annually for 10 years, and the discount rate is 10%. Using net present value analysis, should the company proceed with the investment?
Select the answer
1 correct answer
A.
Yes, because NPV is positive at approximately Rs. 21.5 crore
B.
No, because the payback period exceeds 5 years
C.
Yes, because the project life is 10 years
D.
No, because upfront costs are too high relative to annual flows

Quiz

7/10
Applied Microeconomics
In the context of indifference curve analysis, what does the slope of an indifference curve represent?
Select the answer
1 correct answer
A.
The budget constraint of the consumer
B.
The marginal rate of substitution between two goods
C.
The income elasticity of demand
D.
The price ratio of the two goods

Quiz

8/10
Advanced Macroeconomics
In the IS-LM model, a contractionary monetary policy shifts the LM curve to the left. What is the effect on the equilibrium interest rate and output in the short run?
Select the answer
1 correct answer
A.
Interest rate rises, output remains unchanged
B.
Interest rate falls, output increases
C.
Interest rate rises, output falls
D.
Interest rate remains stable, output falls

Quiz

9/10
Quantitative Techniques for Economics
Solve the system of linear equations: 2x + 3y = 8 and 4x - y = 6. What is the value of x?
Select the answer
1 correct answer
A.
2
B.
1
C.
3
D.
4

Quiz

10/10
Statistical Techniques for Economics
An economist is comparing the variability of inflation rates across two countries over the same period. Country A has a mean inflation of 5% with a standard deviation of 1.2%, while Country B has a mean of 8% with a standard deviation of 1.5%. Which statement correctly interprets the dispersion?
Select the answer
1 correct answer
A.
Country A has higher variability because it has a larger mean
B.
Country B has higher absolute variability because it has a larger standard deviation
C.
Country A has less relative variability when adjusted for its mean level
D.
Both countries have equivalent variability despite different standard deviations
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  • Quiz name:Chartered Economist® Certification Examination
  • Total number of questions:502
  • Number of questions for the test:50
  • Pass score:80%

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