Practice initial exam
MULTIPLE CHOICE DO ALL 8 QUESTIONS
The picture above is the result in the market after there was an increase in the income of
the household buying this good. Which of the following statements could be true?
I. Before the
Practice MT #1
1. A company has $100,000 in assets invested in a company that is generating revenue
of $250,000 and expects a normal rate of return of 10%. Which of the following
statements must be true?
If the firm has accoun
Key MT #1
SEC I MC: 1 d 2 a 3 b 4 a 5 b 6 c 7 c 8 c
1. In all these problems, the consumer is choosing to spend all his income on either
bread or butter. In all graphs, put bread on the horizontal axis
a) Plot all 3 of the following b
Practice MT #2
1. A profit maximizing, one-price monopolist facing a standard shaped demand and
cost curves is currently producing 18 units of output and selling it at a price of $34.
Which of the following statements must be true?
Key practice initial exam
SECTION I MC: 1 d 2 e 3 d 4 d 5 b 6 d 7 d 8 d
1. The country of Remulak, with fixed resources and state of technology, can produce the
following combination of shirts and pants.
Practice Final exam
SECTION I MULTIPLE CHOICE.
1. An economy is currently producing 76,000 computers. At this point, producing
1 more computer would cost $740. There is a consumer in this economy who
currently does not have a computer, but is willing and