2013macro sample exam questions 97-03

C who has the comparativ e advantage in writing

This preview shows page 37 - 86 out of 205 pages.

c.  Who has  the  comparativ advantage  in writing  programs? Why?  T
Image of page 37

Subscribe to view the full document.

C S
Image of page 38
L S
Image of page 39

Subscribe to view the full document.

C     7) 
Image of page 40
Suppose  Katie,  Mark, and  Bobby are  the only  consumers  in the  market for  ice cream.  Using the  demand  schedules  in the table  above,  what is the  market  demand  curve for  ice cream?  T
Image of page 41

Subscribe to view the full document.

M S
Image of page 42
L S
Image of page 43

Subscribe to view the full document.

C   8) 
Image of page 44
Soft drinks  are a  normal  good.  Draw a  graph  showing  the effect  of an  increase in  income on  the  demand  for soft  drinks.  T
Image of page 45

Subscribe to view the full document.

C S
Image of page 46
L S
Image of page 47

Subscribe to view the full document.

C     9) 
Image of page 48
The above  table gives  the  demand  and supply  schedules  for cat  food. If the  price is  $3.00 per  pound of  cat food,  will there  be a  shortage, a  surplus, or  is this  price the  equilibriu m price? If  there is a  shortage,  how much  is the  shortage?  If there is a  surplus,  how much  is the  surplus? If  $3.00 is  the  equilibriu m price,  what is the  equilibriu quantity?  T
Image of page 49

Subscribe to view the full document.

S S
Image of page 50
L S
Image of page 51

Subscribe to view the full document.

C   0) 
Image of page 52
Consumers  can use  either  natural gas  or heating  oil to  warm their  houses.  Suppose  the price  of natural  gas  increases.  Use a  demand  and supply  diagram to  show the  impact of  the higher  price of  natural  gas  on the  market for  home  heating  oil .   T
Image of page 53

Subscribe to view the full document.

E S
Image of page 54
L S
Image of page 55

Subscribe to view the full document.

C   11
Image of page 56

{[ snackBarMessage ]}

Get FREE access by uploading your study materials

Upload your study materials now and get free access to over 25 million documents.

Upload now for FREE access Or pay now for instant access
Christopher Reinemann
"Before using Course Hero my grade was at 78%. By the end of the semester my grade was at 90%. I could not have done it without all the class material I found."
— Christopher R., University of Rhode Island '15, Course Hero Intern

Ask a question for free

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern