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• 3. Currently you work for 40 hours per week at the wage rate of $20 an hour. Your free hours aredefi
• 4. Countries A, B and C produce only watermelons (X) and grapefruits (Y). The productionpossibility
• 5. Four farmers are deciding whether to contribute to the maintenance of an irrigation project. Fore
• 6. GDP of the country X grows by 1% per year every year. GDP of the country Y grows by 2% peryear ev
• 7. Which of the following statements about the outcome of an economic interaction is correct?(A) If
• 8. Jane spends all her money on the ingredients of her favorite cocktail. To make a portion of theco
• 9. Maria earns $12 per hour in her current job and works 35 hours a week. Her disutility of effortis
• 10. Which of the following statements best describes the concept of commitment device?(A) A student
• 11. The table represents market demand Q for a good at different prices P.Q 100 200 300 400 500 600
• 12. Which of the following scholars represents the modern institutional theory of economic growth?(A
• 13. Which of the following statements is correct?(A) A fall in the mortgage interest rate would shif
• 14. The demand for widgets is given by Q = 100–2P, the supply is given by Q = –20 + P. Thegovernment
• 15. Which of these measures will by itself decrease the Gini coefficient of income distribution?(A)
• 16. Which of the following best describes natural monopoly?(A) An eco-friendly monopoly.(B) A firm t
• 17. Which of the following statements is correct?(A) The fundamental value of the shares in a firm i
• 18. Consider a perfectly competitive market where all firms have constant and equal average cost(a c
• 19. Consider the situation where the noise of a factory’s production affects nurses in the dormitory
• 20. You are going to buy a laptop for 1,000 USD. You can either withdraw this money from yourbank ac
• 21. Which of the following statements is correct?(A) GDP can be measured either as the total spendin
• 22. A perfectly competitive market has 100 firms, each of which has constant MC = 10. Thedemand func
• 23. Which of the following statements is correct?(A) Maintaining fiscal balance in a recession helps
• 24. Which of the following happened at the beginning on the 21st century?(A) The Great Depression(B)
• 25. Which of the following statements is correct?(A) When interest rates go down, asset prices go up
• 26. Firm S is a monopolist on the market for space tourism. The demand for its service is discrete:c
• 27. Which of the following statements is correct?(A) In the short-run model the amount of some facto