Edited, memorised or added to reading list

on 11-Aug-2015 (Tue)

Do you want BuboFlash to help you learning these things? Click here to log in or create user.

#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
The sensitivity of quantity demanded to change in income is termed income elasticity.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903012

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
The sensitivity of [...] to change in income is termed income elasticity.
Answer
quantity demanded (or "demand" seems to be right term as it is an input other than price)


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
The sensitivity of quantity demanded to change in income is termed income elasticity.

Original toplevel document (pdf)

cannot see any pdfs







Flashcard 150903018

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
The sensitivity of quantity demanded to change in income is termed [...].
Answer
income elasticity


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
The sensitivity of quantity demanded to change in income is termed income elasticity.

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
For most goods, the sign of income elasticity is positive-an increase in income leads to an increase in quantity demanded. Goods for which this is the case are termed normal goods.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903028

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
For most goods, the sign of income elasticity is [...]-an increase in income leads to an increase in quantity demanded. Goods for which this is the case are termed normal goods.
Answer
positive


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
For most goods, the sign of income elasticity is positive-an increase in income leads to an increase in quantity demanded. Goods for which this is the case are termed normal goods.

Original toplevel document (pdf)

cannot see any pdfs







Flashcard 150903034

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
For most goods, the sign of income elasticity is positive-an increase in income leads to an increase in quantity demanded. Goods for which this is the case are termed [...] goods.
Answer
normal


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
For most goods, the sign of income elasticity is positive-an increase in income leads to an increase in quantity demanded. Goods for which this is the case are termed normal goods.

Original toplevel document (pdf)

cannot see any pdfs







Flashcard 150903040

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
For most goods, the sign of income elasticity is positive-an increase in income leads to [...] in demand. Goods for which this is the case are termed normal goods.
Answer
an increase


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
For most goods, the sign of income elasticity is positive-an increase in income leads to an increase in quantity demanded. Goods for which this is the case are termed normal goods.

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
it may be the case that an increase in income leads to a decrease in quantity demanded. We term goods for which this is true inferior goods.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903050

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
it may be the case that an increase in income leads to a decrease in quantity demanded. We term goods for which this is true [...] goods.
Answer
inferior


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
it may be the case that an increase in income leads to a decrease in quantity demanded. We term goods for which this is true inferior goods.

Original toplevel document (pdf)

cannot see any pdfs







Flashcard 150903056

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
it may be the case that an increase in income leads to [...] in quantity demanded. We term goods for which this is true inferior goods.
Answer
a decrease


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
it may be the case that an increase in income leads to a decrease in quantity demanded. We term goods for which this is true inferior goods.

Original toplevel document (pdf)

cannot see any pdfs







Flashcard 150903065

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
it may be the case that [...] in income leads to a decrease in quantity demanded. We term goods for which this is true inferior goods.
Answer
an increase


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
it may be the case that an increase in income leads to a decrease in quantity demanded. We term goods for which this is true inferior goods.

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
A specific good may be an inferior good for some ranges of income and a normal good for other ranges of income. For a really poor person or population (think undeveloped country), an increase in income may lead to greater consumption of noodles or rice. Now, if incomes rise a bit (think college student or developing country), more meat or seafood may become part of their diet. Over this range of incomes, noodles can be an inferior good and ground meat a normal good.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903075

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
A specific good may be an inferior good for some ranges of income and a normal good for other ranges of income. For a really poor person or population (think undeveloped country), an increase in income may lead to greater consumption of noodles or rice. Now, if incomes rise a bit (think college student or developing country), more meat or seafood may become part of their diet. Over this range of incomes, [which good is normal and which is inferior?].
Answer
noodles can be an inferior good and ground meat a normal good


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
in income may lead to greater consumption of noodles or rice. Now, if incomes rise a bit (think college student or developing country), more meat or seafood may become part of their diet. Over this range of incomes, <span>noodles can be an inferior good and ground meat a normal good. <span><body><html>

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
The ratio of the percentage change in the quantity demanded of a good to the percentage change in the price of a related good is termed the cross price elasticity of demand.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903088

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
The [...] is termed the cross price elasticity of demand.
Answer
ratio of the percentage change in the quantity demanded of a good to the percentage change in the price of a related good (sensitivity)


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
The ratio of the percentage change in the quantity demanded of a good to the percentage change in the price of a related good is termed the cross price elasticity of demand.

Original toplevel document (pdf)

cannot see any pdfs







Flashcard 150903094

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
The ratio of the percentage change in the quantity demanded of a good to the percentage change in the price of a related good is termed the [...].
Answer
cross price elasticity of demand


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
The ratio of the percentage change in the quantity demanded of a good to the percentage change in the price of a related good is termed the cross price elasticity of demand.

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
When an increase in the price of a related good increases demand for a good, we say that the two goods are substitutes.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903104

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
When an increase in the price of a related good increases demand for a good, we say that the two goods are [...].
Answer
substitutes


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
When an increase in the price of a related good increases demand for a good, we say that the two goods are substitutes.

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
elasticity of demand is positive (price of one up, quantity demanded for the other up), we say those goods are substitutes

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903114

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
when elasticity of demand is positive ([describe how price of one good and quantity demanded of other good behave]), we say those goods are substitutes.
Answer
price of one up, quantity demanded for the other up


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
elasticity of demand is positive (price of one up, quantity demanded for the other up), we say those goods are substitutes

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Imposition of an effective maximum price (price ceiling) by the government results in excess demand,

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903130

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Imposition of an effective maximum price (price ceiling) by the government results in [...] demand
Answer
excess


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
Imposition of an effective maximum price (price ceiling) by the government results in excess demand,

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
imposition of an effective minimum price (price floor) results in excess supply

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903140

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
imposition of an effective minimum price (price floor) results in excess [...]
Answer
supply


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
imposition of an effective minimum price (price floor) results in excess supply

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Imposition of an effective quota reduces supply.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903150

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Imposition of an effective quota [...] supply
Answer
reduces


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
Imposition of an effective quota reduces supply.

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Payment of a subsidy to producers increases supply.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903160

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Payment of a subsidy to producers [...] supply
Answer
increases


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
Payment of a subsidy to producers increases supply.

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Imposition of a tax on suppliers reduces supply.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903170

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Imposition of a tax on suppliers [...] supply
Answer
reduces


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
Imposition of a tax on suppliers reduces supply.

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Imposition of a tax on consumers reduces demand.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903180

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Imposition of a tax on consumers [...] demand
Answer
reduces demand


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
Imposition of a tax on consumers reduces demand.

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Three elasticities related to a demand function are of interest, they all have % change in quantity demanded in numerator.

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903193

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Three elasticities related to a demand function are of interest, they all have [...] in numerator.
Answer
% change in quantity demanded


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
Three elasticities related to a demand function are of interest, they all have % change in quantity demanded in nominator.

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
own price elasticity = %change in quantity demanded / %change in own price

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903209

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
[...] = %change in quantity demanded / %change in own price
Answer
own price elasticity


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
own price elasticity = %change in quantity demanded / %change in own price

Original toplevel document (pdf)

cannot see any pdfs







Flashcard 150903215

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
own price elasticity = %change in quantity demanded / [...]
Answer
%change in own price


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
own price elasticity = %change in quantity demanded / %change in own price

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
cross price elasticity = %change in quantity demanded / %change in price of related good

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903231

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
[...] = %change in quantity demanded / %change in price of related good
Answer
cross price elasticity


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
cross price elasticity = %change in quantity demanded / %change in price of related good

Original toplevel document (pdf)

cannot see any pdfs







Flashcard 150903237

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
cross price elasticity = %change in quantity demanded / [...]
Answer
%change in price of related good


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
cross price elasticity = %change in quantity demanded / %change in price of related good

Original toplevel document (pdf)

cannot see any pdfs







#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
income elasticity = %change in quantity demanded / %change in income

statusnot read reprioritisations
last reprioritisation on reading queue position [%]
started reading on finished reading on

pdf

cannot see any pdfs




Flashcard 150903250

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
[...] = %change in quantity demanded / %change in income
Answer
income elasticity


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
income elasticity = %change in quantity demanded / %change in income

Original toplevel document (pdf)

cannot see any pdfs







Flashcard 150903262

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
income elasticity = [...] / %change in income
Answer
%change in quantity demanded


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Parent (intermediate) annotation

Open it
income elasticity = %change in quantity demanded / %change in income

Original toplevel document (pdf)

cannot see any pdfs







Flashcard 150903268

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
mathematical way to say demand is elastic
Answer
|own price elasticity| > 1


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

pdf

cannot see any pdfs







Flashcard 150903277

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
mathematical way to say that demand is inelastic
Answer
|own price elasticity| < 1


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

pdf

cannot see any pdfs







Flashcard 150903286

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
mathematical way to say that related good is a substitute
Answer
cross price elasticity> 0


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

pdf

cannot see any pdfs







Flashcard 150903295

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
mathematical way to say that related good is a complement
Answer
cross price elasticity < 0


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

pdf

cannot see any pdfs







Flashcard 150903304

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
mathematical way to say that good is an inferior good
Answer
income elasticity < 0


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

pdf

cannot see any pdfs







Flashcard 150903313

Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
mathematical way to say that good is a normal good
Answer
income elasticity > 0


statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

pdf

cannot see any pdfs