9. Assume TO YOTA is able to practice the third degree price discrimination between the U.S. and the
11. An industry has two firms, each of which produces output at a constant unit cost of $10 per unit
12. Which of the following statements is NOT true?(A) In a monopolistic labor market, marginal facto
13. Suppose there are ten people playing cards in a room. One of them wants to smoke a cigar, nine o
16. Traditional economic models cannot explain why:(A) People buy more of certain goods when their i
18. A typical IS-LM model composes AD, and AS is the aggregate supply curve of the classical school.
19. In the expenditure approach to the national income accounting, the expenditure is put in 5 categ
21. If a country has very high unemployment rate and the government requires firms cut the hourswork
22. When the media talks about the U.S. Federal Reserve changing interest rates, the interest rate t
23. A country is at full-employment. Given the expenditure approach to the national income accountin
25. Which of the following is inconsistent with New Classical School of economics?(A) If the governm
2. Suppose output is $35 billion, government purchases are $10 billion, desiredconsumption is $15 bi
3. The per-worker production function in the Solow model assumes(A) constant returns to scale and in
4. The idea that saving equals investment in the Solow model means that a steady statecan be reached
5. The idea that the business cycle is recurrent means that(A) declines in economic activity tend to