1.An economy starts off with a GDP per capita of 12,000 euros. How large will the GDP per capita be if it grows at an annual rate of 3% for 10 years? 3% for 30 years? 6% for 30 years?

2. You are the manager of a firm that sells a "commodity" in a market that resembles perfect competition, and your cost function is C(Q)=2Q+3Q2C(Q)=2Q+3Q2. Unfortunately, due to production lags, you must make your output decision prior to knowing for certain the price that will prevail in the market. You believe that there is a 70% chance the market price will be $200 and a 30% chance it will be a $600.

A. Calculate the expected market price.

B. What output should you produce in order to maximize expected profits?

C. What are your expected profits?

3. In economics, why is money not considered as capital?

4. How is unemployment dependent on value judgment?

5. What is the difference between traditional Keynesian and new Keynesian economics?

6. How can there be any economic gains for a country from both importing and exporting the same good, like cars?

7. What is economics and why is it important?

8. How do people express economic value?

9.What is natural resource economics

10. What are the three reasons to study economics