Free CIMA CIMAPRA17-BA1-1-ENG Exam Questions

Become CIMA Certified with updated CIMAPRA17-BA1-1-ENG exam questions and correct answers

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Total 471 Questions | Updated On: Aug 05, 2022

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Question 1

The main purpose of government competition policy is to

A : event mergers between large companies

B : trict anti-competitive behavior by firms

C : mit the ability of firms to secure long run excess profits

D : force competition by breaking up large firms

Answer: B

Question 2

If the government imposed a legal minimum wage that was above the market equilibrium wage, the resulting unemployment would be the greatest when:

A : demand for labor and the supply of labor are both price inelastic

B : demand for labor and the supply of labor are both price elastic

C : demand for labor is price inelastic and the supply of labor is price elastic

D : demand for labor is price elastic and the supply of labor is price inelastic

Answer: B

Question 3

A regressive tax is defined as one where:

A : amount of tax paid by a taxpayer falls as income rises

B : rate of tax is different for different income levels

C : proportion of income paid in tax rises as income falls

D : tax is levied on expenditure not income

Answer: C

Question 4

In a recession which ONE of the following would be likely to experience the largest fall in demand for its products?

A : manufacturer of industrial machine tools

B : chain of supermarket grocery stores

C : motor insurance company

D : toothpaste manufacturer

Answer: A

Question 5

A typical supply curve of a good shows:

A : quantities of the good firms actually sell at different possible prices

B : quantities of the good firms are prepared to supply at different possible prices

C : fferent possible equilibrium prices

D : antity supplied varying inversely with price

Answer: B

Page: 1 / 95

Total 471 Questions | Updated On: Aug 05, 2022

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