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(1 point) The graph below shows the demand and supply for gasoline. Suppose the government imposes a

(1 point) The graph below shows the demand and supply for gasoline. Suppose the government imposes a price ceiling of $4 per gallon of gas. Does consumer surplus rise or fall? Fall How much does consumer surplus rise or fall? Does producer surplus rise or fall? Fall How much does producer surplus rise or fall? What is the size of the deadweight loss? How much of this deadweight loss is due to too little gasoline being sold? How much of this deadweight loss is due to time wasted in waiting lines? Suppose that everone's time is worth $2 per hour. How long (in hours) must you wait in line to buy a gallon of gasoline? 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

1 point Suppose there are two countries that are labeled 1 and 2. Let t; be the tariff level of coun

1 point Suppose there are two countries that are labeled 1 and 2. Let t; be the tariff level of country i (in percent), for i = 1, 2. If country i gets a payoff of 2000 + 60x; + X;X; – xz – 90x; (measured in billions of dollars). Assume that Xi and x2 must be between 0 and 100 and that the countries set tariff levels simultaneously and independently. 1.Country j's Best response function is 60 + X; – 2x; = 0. 2.Country i's Best response function is Xi – 90 = 0. 3. There is no Nash Equilibrium. 4.There is a Nash Equilibrium (120, 120) O Only statement 1 is true. All statements are true. O Statement 1 and 4 are true. All statements are false.

1 points QUESTION 12 The quantity demanded of a good is the amount that buyers are O a willing and a

1 points QUESTION 12 The quantity demanded of a good is the amount that buyers are O a willing and able to buy. Ob willing, able, and need to buy. Oc able to buy Od willing to buy QUESTION 13 1 points Exhibit 43 Q Q Q Q Quantity of Movie Tickets Refer to Exhibit 4-3. The University Theater faces market demand curve Do and has begun charging S10, up from 55. for tickets for Friday and Saturday night shows. As a result, students have: a decreased their quantity of tickets demanded to Q1 b. increased their demand for tickets to 04 Oc increased their quantity of tickets demanded to Q4 Od decreased their demand for tickets to Q1

1 points Question 4 Thach Corporation uses a job-order costing system with a single plantwide predet

1 points Question 4 Thach Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine hours. The company based its predetermined overhead rate for the current year on tota foxed manufacturing overhead cost of $665,000, variable manufacturing overhead of $3.00 per machine hour and 70,000 machine hours. Recently, Job 1321 was completed with the following characteristics: Number of units in the job Total machine hours $ 630 Direct materials Direct labor cost $ 2.80 The unit product cost for job 7321 is closest $117.00 $58 50 $154.50 $51.50 W Quesson 4 of 11 The French Province of Quebec _from the rest of Canada. has quite a different value system similar value sytem speaks mostly English located in the far west

1 points Save Answer QUESTION 29 Which of the following are externalities (to drivers) of the number

1 points Save Answer QUESTION 29 Which of the following are externalities (to drivers) of the number of miles they drive? a. wear and tear on highways D. the probability of getting in an accident involving another driver C. the length of time it takes the average driver to get from point A to Point B d. A and above QUESTION 30 1 points Save Answer Given multiple sources for a uniformly mixed air pollutant where the optimal level of the pollutant is precisely known. Which control method is likely to be the least cost effective? atradable emissions permits (cap and trade) b. emissions charges C. emissions standards (Command and Control, CAC) d. none of the above 1 points Save Answer QUESTION 31 According to the cob-web model (Figure 2) the feast and famine cycle can be explained as… a. farmers are not aware that the market is not in equilibrium D. farmers plan this year's supply based on last year's prices f armers try to predict the demand curve based on observed prices and quantities sold. C d. All of the above

1. Political economists affirm that preferences are a) exogamous b) exogenous c) reciprocal d) endog

1. Political economists affirm that preferences are a) exogamous b) exogenous c) reciprocal d) endogenous 2. The usual outcome of an ultimatum game is a) a seventy-five- twenty-five split b) a fifty-fifty split c) a forty-sixty split d) none of the above 3. Which of the following does not refer to a part of the definition of class relationship? a) division between producers and controllers of the surplus product b) vertical or hierarchical relationship c) division between workers and consumers d) relationship to a labor process 4. In a capitalist economic system profits are a) income for capitalists and workers b) only one form of the surplus product c) sales revenue less cost of materials used up in production d) spent entirely on new capital goods 5. According to the democratic values in Political Economy the accountability of power in decision makers are accountable to: a. the resource provider b. the law and enforcement agency c. those who implemented d. those who are impacted 6. Civil Liberties in the Political Economy refer to a. equal access to political resources b. freedom speech c. freedom to vote d. freedom to do business 7. What are the possible uses of surplus product? a. health and education b. new technology and increased capital c. social safety nets for the poor

1. Is it possible for trade to take place in the Classical world of David Ricardo without complete s

1.
Is it possible for trade to take place in the Classical world of
David Ricardo without complete specialization of production in both
countries? If so, when? Who will receive the gains from trade in
this instance? Why?

2. It has been argued that the effect of trade in goods and
services has the same effect on factor income distribution in a
country as would be the case if factors were completely mobile
internationally. What is the reasoning behind this argument?

3. Two of the strong assumptions underlying the H-O model are
zero transportation costs and perfect competition. Explain how the
presence of each might alter any of conclusions reached in the
basic H-O approach

1. What is the present value of the following at the market interest rate of 10%? a. $500 to be rece

1. What is the present value of the following at the market interest rate of 10%? a. $500 to be received after 2 years. b. Income stream of $100 to be received annually during the next three years. 2. What is the difference between a discount bond and a perpetuity? a. Arrange the following in ascending order based on the yields to maturity for interest rate) Simple loan of $100 to be repaid in full after one year by paying $120. Coupon bond with face value of $1000, coupon rate of 10% remaining maturity of 6 years purchased at $900. III. Coupon bond with face value of $1000, coupon rate of 10% remaining maturity of 6 years purchased at $1400. IV. Coupon bond with face value of $1000, coupon rate of 10% remaining maturity of 6 years purchased at $1000. b. Compare the bond prices and yields to maturity of ii, iii and iv. What are your observations? 4. Consider the following bond purchased at $800 in 2018. F=1000; C=100; N=5; P=800 a. What is the yield to maturity? (This is equal to the market interest rate prevailing in 2018) If the interest rate rises to 20% in 2019 what is the price of the bond? (Solve the following equation: 0.2=(100+(1000-P)/4)/(1000+P)/2) (The number of years remaining is 4) c. If the investor sold the bond in 2019 without holding till maturity did he/she make a profit or a loss? d. What is the rate of return in 2019?

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