CIMA CIMAPRA17-BA1-1-ENG BA1 – Fundamentals of Business Economics (2017 SYLLABUS) (Online) Online Training
CIMA CIMAPRA17-BA1-1-ENG Online Training
The questions for CIMAPRA17-BA1-1-ENG were last updated at May 10,2025.
- Exam Code: CIMAPRA17-BA1-1-ENG
- Exam Name: BA1 - Fundamentals of Business Economics (2017 SYLLABUS) (Online)
- Certification Provider: CIMA
- Latest update: May 10,2025
Oxfam is a charity established to provide aid to the poor.
Which ONE of the following statements about Oxfam is FALSE?
- A . It is a private sector organization
- B . It pursues social goals
- C . It is a not-for-profit organization
- D . It is responsible to its shareholders
Which of the following statements about macroeconomic policy objectives is correct?
- A . Governments always regard control of inflation as the most important policy objective
- B . Conflicts between objectives mean that macroeconomic policy can never be regarded as successful
- C . Expanding demand to reduce unemployment may mean that the balance of payments worsens
- D . The pursuit of economic growth inevitably increases unemployment
CORRECT TEXT
A business was selling 20,000 units of its product per month at a price of $10. When it lowers its price to $9 it finds that its sales rise to 24,000 units per month.
The price elasticity of demand for this firm’s product is
Which of the following economic conditions is likely to lead to demand-pull inflation?
- A . An increase in interest rates and a rise in the world price of oil
- B . An increase in government spending and firms operating at full capacity
- C . Increased monopoly power in goods and labor markets
- D . A worsening balance of payments deficit and a rising exchange rate
Which ONE of the following best explains the statement ‘In not for profit organizations money is a constraint and not a goal’?
- A . Money be ignored because reaching the goals of the organization is all that matters
- B . There is no need for the organization to be efficient
- C . There is a trade off between financial and non-financial goals
- D . Money limits how far the organization can achieve its goals
If in a boom a government adopted a contractionary (restrictive) monetary policy, a typical business would expect to experience:
i. Higher interest payments on its bank borrowing.
ii. Falling credit based sales.
iii. Higher income and corporate taxes.
iv. Lower sales to government agencies.
v. Difficulties in securing working capital
vi. Higher prices for imported components.
- A . (i), (ii) and (vi) only
- B . (i), (ii) and (v) only
- C . (ii), (iii) and (iv) only
- D . (i), (iii) and (iv) only
A country’s gross national product (GNP) will be higher than gross domestic product (GDP) if:
- A . indirect taxes are greater than government subsidies
- B . there is a net inflow of factor payments on the balance of payments
- C . the country’s imports are greater than its exports
- D . government tax income is greater than government expenditure
In the aggregate supply and demand model, a significant rise in the cost of energy for industry would lead to the
- A . Aggregate supply curve moving to the right
- B . Aggregate supply curve moving to the left
- C . Aggregate demand curve moving to the right
- D . Aggregate demand curve moving to the left
Which one of the following would raise both national income and disposable income ?
- A . An increase in transfer payments
- B . A reduction in rates of personal income tax
- C . An increase in business profits
- D . A rise in the rates of personal income tax
On an aggregate demand and aggregate supply diagram, cost-push inflation is shown by
- A . A leftward shift of the short-run aggregate supply curve
- B . A rightward shift of the aggregate demand curve
- C . A rightward shift of the long-run aggregate supply curve
- D . A leftward shift of the aggregate demand curve
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