1) The DVCs are:
A.located primarily in Northern Europe.
B.located primarily in Western Europe.
C.located primarily in Africa, Asia, and Latin America.
D.more-or-less evenly distributed over the various continents.
2) The supply of land is:
A.almost perfectly inelastic.
B.negatively sloped.
C.relatively elastic.
D.perfectly elastic.
3) other things equal, the optimal number of immigrants will be greater, the:
a.greater the education and skill level of immigrants.
b.lower the education and skill level of immigrants.
c.higher the unemployment rate of the destination nation.
d.greater the fiscal burden of each immigrant.
4) The immediate-short-run aggregate supply curve is:
A.downward sloping.
B.upward sloping.
C.vertical.
D.horizontal.
5) A lump-sum tax causes the after-tax consumption schedule:
A.and the before-tax consumption schedule to coincide.
B.to be steeper than the before-tax consumption schedule.
C.to be flatter than the before-tax consumption schedule.
D.to be parallel to the before-tax consumption schedule.
6) while eating at alex’s “pizza by the slice” restaurant, kara experiences diminishing
marginal utility. she gained 10 units of satisfaction from her first slice of pizza
consumed, and would only receive 5 units of satisfaction from consuming a second
slice. based on this information we can conclude that:
a.alex may have to lower the price to convince kara to buy a second slice.
b.kara will not eat a second slice, even if it is given to her at no charge.
c.kara will definitely want to buy a second slice of pizza.
d.even if kara buys a second slice, she will not buy a third slice.
7) suppose that, when producing 10 units of output, a firm’s avc is $22, its afc is $5, and
its mc is $30. this:
a.firm’s atc is $35.
b.firm’s atc is $57.
c.firm’s total cost is $270.
d.firm’s total cost is $30.
8) “backflows” occur when:
a.two countries send immigrants to each other in approximately equal numbers.
b.physical capital flows into a country that has lost labor due to migration.
c.immigrants send financial payments back to family in their country of origin.
d.migrants return to their home country.
9)
refer to the above diagram for a pure monopolist. monopoly output will be:
a.between f and g
b.h
c.g
d.f
10) the following cost data for a firm that is selling in a purely competitive market.
refer to the above data. at 3 units of output, total variable cost is ____ and total cost is
____
a.$20; $70.
b.$60; $210.
c.$20; $210.
d.$60; $350.