5.Suppose that nominal per capita GDP was $18,000 in 1993. The 1990 GDP deflator is.100, and the 1993s GDP deflator is 110. Based on this information, the approximate real per capita GDP in 1993 is
(A) $16,364.
(B) $16,634.  
(C) $16,800.
(D) $18,000.

l.If demand is elastic, a price increase will (A) decrease total revenue. (B) increase total revenue (C) have no effect on total revenue. (D) reduce the demand for the good

2.A firm's short-run production function describes (A) the minimum cost, of producing a given amount of output. (B) how the maximum attainable output varies as the quantity of labor employed in a given production plant varies. (C) how the maximum attainable output varies as the production plant '‘ varies, given the quantity of labor employed (D) the management of the firm over short time periods.

3.Economics would have nothing.important to study if there were no (A) money. (B) taxes or government spending. (C) scarcity. , (D) inflation or unemployment. 

4.In monopolistic competition, each firm's marginal revenue curve has (A) zero slope, and its demand curve also has zero slope. (B) zero slope, and its demand curve has negative slope.. (C) negative slope, aud its demand curve has zero slope. (D) negative slope, and its demand curve has negative slope.

複選題6.The marginal propensity to consume , t (A) is negative if dissaving is present. (B) is between zero and 1. (C) equals .1. (D) exceeds 1

7.The Lorenz curve (A) explains why some households have different incomes. (B) explains why income is equally distributed (C) graphically shows the degree of income inequality. (D) graphically shows the amount of wealth in a country.

8.NOT a part of the opportunity cost of attending college is (A) the cost of tuition. (B) the cost of textbooks. (C) the income that could have been earned by -working. (D) the cost of meals

9.The real-world money multiplier will fall if (A) people increase their demand for currency. (B) the required reserve ratio of banks decreases. (C) people reduce their vacation travel. (D) people spend a smaller fraction of their income on food

10.Suppose the money supply is expected to remain unchanged but it actually increases. According to the rational expectations hypothesis, the price level will (A) rise and real GDP will increase. (B) rise and real GDP will decrease. (C) fall and real GDP will increase. (D) fall and real GDP will decrease.

11.The term consumer surplus refers to (A) the difference between the value of a good and the total paid for the good (B) the total value that a consumer places upon a good (C) the decreasing marginal utility that consumers receive from additional consumption of a good (D) the area between the demand curve and the horizontal axis.