17. One bag of oranges is sold for JPY600 to a company that turns them into juice which is sold to consumers for JPY1200. Another bag of oranges is purchased by a grocery store for JPY600 who then GDP? sells it to a consumer for JPY700. Taking these four transactions into account, how much is added to a. JPY3100 b. JPY2500 c. JPY1900 d. None of the above is correct. .basutoni lliw erollos yd bovisoon song adt bas .pesotoni .s seb lliw enollue yd bovisoon going ord ba 18. Suppose a gardener produces both green beans and corn in her garden. If she must give up 14 bushels of corn to get 5 bushels of green beans, then her opportunity cost of 1 bushel of green beans is a. 0.36 bushel of corn. anblood bris enso gonisgot to oldages died ers or bus uj As b. 2.8 bushels of corn. goldizzoq lon al sohisnoon c. 14 bushels of corn.osX ben ayso gaitiegs of agelasybe svizioqmoo s ead soul .s d. 70 bushels of corn. alnom guolooo loade us eed oBY bra gro anniegot ni againevbe stuloads ne and ujnud .d 19. If macaroni and cheese is an inferior good, what would happen to the equilibrium price and quantity of macaroni and cheese if consumers' incomes rise? salasybe evilmisqmoo s esd wind .. a. Both the equilibrium price and quantity would increase. ni ogsinevbe siuloads as ead oBY .b b. Both the equilibrium price and quantity would decrease. c. The equilibrium price would increase, and the equilibrium quantity would decrease. 28010 25 d. The equilibrium price would decrease, and the equilibrium quantity would increase. to suenami 20. The difference between social cost and private cost is a measure of the asistmiles Isonfailsla .d a. loss in profit to the seller as the result of a negative externality. queen sid no beand asong .o b. cost of an externality. .vsq of guilliw ed blow momuenoo innoms mumixam sdi .b c. cost reduction when the negative externality is eliminated. d. cost incurred by the government when it intervenes in the market. bawnwob svom ow zA dS Justanco memon visitesta bas scola rod s 21. If nominal GDP is JPY8 trillion and real GDP is JPY10 trillion, then the GDP deflator is d a. 80, and this indicates that the price level has decreased by 20 percent since the base year. b. 80, and this indicates that the price level has increased by 80 percent since the base year. . c. 125, and this indicates that the price level has increased by 25 percent since the base year. d. 125, and this indicates that the price level has increased by 125 percent since the base year.NGUYEN DAN QUYNH Student ID: 124 Name: go Yasgrana Instructions 1. This is an open book examination. You may refer to appropriate study materials. However, borrowing material from other students during the examination will be considered ssost bris ID anotold cheating. 2. You are not allowed to communicate with others during the examination. 3. You will have 60 minutes to complete the examination. nal bas "(0 nsoto 3. The examination consists of 50 questions. 4. The examination will be evaluated on a 50-point scale. to nonamongrig adT a .boog visv lon on abodom nonoubong aninoonoos learn s Questions rise bris aboog your oof to noloubong Johlest ainammovog a For each question, check ( ) the correct option. You may choose only one option for each question (a, b, c, or d). orit at fordW vilamarx's sitegon s sissio ersouborg Inom jard seonqua .a 1. Suppose that gasoline prices increase dramatically this month. Juan commutes 100 miles to work each weekday. Over the next few months, Juan drives less on the weekends to try to save money. Within the year, she sells her home and purchases one only 10 miles from her place of employment. These examples illustrate the importance of o vilsione sill needs east si lunsup mundiliups sil? o a. the availability of substitutes in determining the price elasticity of demand. onion ai bredT b b. a necessity versus a luxury in determining the price elasticity of demand. c. the definition of a market in determining the price elasticity of demand. wollot ofh to doulW . d. the time horizon in determining the price elasticity of demand.org ard joe mollo2 .s .erolls2 ynom sis stodT d 2. An economy's production of two goods is efficient if where ard song ardi aquos baum ansvullo a. all members of society consume equal portions of the goods. hostels gis swords ardi to liA .b b. the goods are produced using only some of society's available resources. c. it is impossible to produce more of one good without producing less of the other. d. the opportunity cost of producing more of one good is zero