KÖZGAZDASÁGI- MARKETING ALAPISMERETEK ANGOL NYELVEN

ÉRETTSÉGI VIZSGA ● 2010. október 18.

Közgazdasági-marketing alapismeretek angol nyelven

emelt szint Javítási-értékelési útmutató 0812

KÖZGAZDASÁGIMARKETING ALAPISMERETEK ANGOL NYELVEN

EMELT SZINTŰ ÍRÁSBELI ÉRETTSÉGI VIZSGA

JAVÍTÁSI-ÉRTÉKELÉSI ÚTMUTATÓ

NEMZETI ERŐFORRÁS MINISZTÉRIUM

Közgazdasági-marketing alapismeretek angol nyelven emelt szint

Javítási-értékelési útmutató

Important Information

During correction all partial points awarded for partial solutions must be indicated, as well as occurring mistakes. When awarding points, the following principles have to be followed: 1. Maximum points can only be given for perfect solutions. In case of missing answers the partial point awardable for the answer will be deducted. 2. If a question has been solved using a logically sound procedure, but calculation errors have occurred, then half of the awardable partial points have to be deducted, where the error was made. The logically sound procedure will still count as correct in the later stages of the solution regardless of the calculation error; therefore later partial points do not need to be deducted because of one error. 3. Only one answer per question is accepted. 4. Indicating only the end result of calculations is not enough, all calculations and formulas have to be written down as well. 5. For the true/false questions the indication of the letters T or F is worth 1 point only. If the incorrect letter is indicated, but it is accompanied by a professionally sound explanation then 1 point may be awarded. 6. There are several different possible answers for the questions. Solutions that are different from those in the correction guide can still be correct and if accurate they should be awarded maximum points. Answers listed in the correction-evaluation guide can only be awarded the points indicated. The further breaking down of the points indicated is possible only if this is separately mentioned. The points acquired after this is done can only be whole numbers.

írásbeli vizsga 0812

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2010. október 18.



MICRO-ECONOMICS I. MULTIPLE CHOICE QUESTIONS

3 x 1 = 3 points

1. b 2. b 3. b

II. TRUE/FALSE QUESTIONS

4 x 2 = 8 points

1. F

The rate of substitution depends on the marginal utility of two products and not the units of measurement.

2. F

The average product increases until it is equal to the marginal product, then it decreases.

3. F

The marginal income of a monopoly is positive until total income reaches its maximum. By further increasing production total income decreases and marginal income is negative.

4. T

Ragweed – due to the allergic reactions and illness it causes – results in extra charges both for sick persons and for social security. Parts of these charges are transferred to land owners. However, the fine primarily serves prevention.

III. DEFINITIONS

2 x 2 = 4 points

1. A competition of innovation is a competition of the development and market introduction of new products and new production techniques. 2. Redistribution (secondary distribution of income) is the collective system of taxes and aids.


3/9

2010. október 18.



IV. CALCULATION AND GEOMETRICAL QUESTIONS

25 points

Question 1

15 points

a. VC = AVC × Q VC = (Q2 - 4Q + 9) × Q = Q3 – 4Q2 + 9Q TC = FC + VC TC = Q3 - 4Q2 + 9Q + 50

1 point 1 point

b. The optimal production quantity of the company is: MC = P

2 points

25 = 3Q2 – 8Q + 9 0 = 3Q2 – 8Q – 16

8 +− 64 + 192 6

Q1.2 =

Q1 = 8 +−16 6

Q1.2 =

4 3

Q2 = 4

The optimal production quantity of the company is 4 million pieces. c. AC =

3 points 2 points

TC 50 = Q 2 − 4Q + 9 + Q Q

AC = 16 – 16 + 9 +

50 = 21,5 4

2 points

or TC = 64 – 64 + 36 +50 = 86 AC =

TC 86 = = 21,5 Q 4

One of these solutions is enough. d. Income: TR = Q × P = 4 × 25 = 100

2 points

Profit: TΠ = TR − TC = 100 − 86 = 14


2 points

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2010. október 18.


Question 2 Number of years: Interest + redemption Interest factor

Present value


10 points

Year1 8000 1.06

Year 2 108000 1.062 = 1.1236

8000 108000 + 1,06 1,1236 7547 + 96 120 = 103 667

The present value is HUF 103 667 This is the maximum value that it is still worth paying for it.

V. ELABORATIVE QUESTION

2 points 2 points 3 points 2 points 1 point

10 points

The assessment of capital investments - assessment of assets. Capital investment: the purchasing of a new machine, the expansion of existing plants, or the acquisition of a company business share. 1 point A company can have several different types of economic assessments at the same time: Book value: the net value of company assets. This is the gross asset value entered into the books at the purchasing price with actual costs, which already has the accounted depreciation of assets deducted from it. 2 points Replacement value: the cost of the procurement of existing tools from the market at a given time taking into account the technical condition of the given tools. This method should be applied with tools the price of which has changed significantly or in the case of the merging of companies to determine contribution in kind. 2 points Business value: the capitalised value of company assets, the present value of expected revenues (profit). 2 points Liquidation value: expresses what net revenue would be after the deduction of transaction costs related to the selling of assets if the company would be sold and its assets sold. 2 points

The results of the various assessment methods may be significantly different from each other. The type of method to be applied depends largely on the goals we want to achieve. 1 point


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2010. október 18.



MACRO-ECONOMICS VI. MULTIPLE CHOICE QUESTIONS

3 x 1 = 3 points

1. b 2. b 3. c VII. TRUE/FALSE QUESTIONS

4 x 2 = 8 points

1. T

The number of working days has decreased by one, and in the short-run output is determined by labour quantity.

2. T

The goal of issuing government bonds is to finance the budget deficit. Persons buying government bonds are effectively lending money to the state.

3. T

If foreigners also buy domestic products and services, then this is extra demand for domestic companies.

4. F

In a floating exchange rate system, monetary policy is an effective tool from the aspect of increasing income and employment.

VIII. DEFINITIONS

2 x 2 = 4 points

1. Transfer payment: income flow without direct remuneration. 2. Devaluation – price spiral: The processes of nominal devaluation and domestic inflation that strengthen each other.


6/9

2010. október 18.



IX. CALCULATION AND GEOMETRICAL QUESTIONS

25 points

Question 1

10 points

YD

I D

Y =Y C(Y)+I1 C(Y)+I0 C(Y)

I1 I0

45° Y0

a.

b.

Y1

Y

i0 – I0 C (Y) + I0 Y = YD (indicating 45o) one of the methods is enough: or Y = YD or 45o

i0 1 point 1 point 1 point

Y0 equilibrium income

1 point

The new investment function i0 – I1 C (Y) + I1 Y1

2 points 2 points 1 point 1 point


i

7/9

2010. október 18.



Question 2

15 points

The following table contains data of an open macro-economy: Y 8000 9000 10000 11000 12000

a.

C 7650 8500 9350 10200 11050

ĉ=

I 200 200 200 200 200

G 500 500 500 500 500

X 850 850 850 850 850

ΔC 9350 − 7650 = = 0,85 ΔY 10000 − 8000

IM 800 850 900 950 1000

YD 8400 9200 10000 10800 11600

2 points

9350 = C0 + 0.85 × 10000 C0 = 850

1 point

or: 7650 = C0 + 0.85 × 8000 b.

m=

1000 − 800 200 ΔIM = = = 0,05 ΔY 12000 − 8000 4000

2 points

IM = IM0 + mY 800 = IM0 + 0.05×8000 800 = IM0 + 400 IM0= 400 c.

1 point

I, G and X are autonomous factors, and are the same at all income levels. if ΔY = 1000 ĉ = 0.85 ΔC = 850 if ΔY = 1000, m = 0.05 ΔIM = 50 YD= C + I + G + X - IM Each correctly completed column is worth 1 point.

6×1=6 points

d.

at 10000 income level Y = YD

1 point

e.

at 9000 income level X = IM

1 point

at 8000 and 9000 income levels YD>Y, there is excess demand on the commodity market. 1 point at 11000 and 12000 income levels Y>YD, there is oversupply.


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2010. október 18.



X. ELABORATIVE QUESTION

10 points

Floating exchange rate currency market

The intersection point of the two curves gives us the equilibrium exchange rate and quantity. Diagram:

3 points

If the exchange rate is higher, then there is oversupply, which automatically lowers the exchange rate. If the exchange rate is lower, then there is excess demand, which raises the exchange rate. This is how equilibrium is automatically established. 2 points

Currency demand is equal to the sum of commodity import and capital export, while currency supply is equal to the sum of commodity export and capital import. Therefore, with an equilibrium currency exchange rate of e*: commodity export + capital import = commodity import + capital export.

2 points

This means that in this situation the amount of incoming and out-flowing foreign currency is equal, central bank foreign exchange reserves are unchanged and the balance of payments is in equilibrium. 1 point In the case of a floating currency exchange rate, the changes of the exchange rate ensure that the balance of payments is in equilibrium. 1 point Apart from the nominal exchange rate, international commodity trade and capital flow is also affected by the ratio of foreign price levels expressed in domestic currency and the domestic price level. 1 point


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2010. október 18.

KÖZGAZDASÁGI- MARKETING ALAPISMERETEK ANGOL NYELVEN

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