23. Refer to Figure 7. Assume the figure charts possible outcomes for the year 2019. In 2019, the economy is at point A on the left-hand graph, which corresponds to point A on the right-hand graph. The price level in the year 2018 was
(A) 144.
(B) 150.
(C) 152.
(D) 156.

24. France has a higher natural rate of unemployment than the United States. This suggests that (A) France is at a higher point on its long-run Phillips curve and so has higher inflation than the United States. (B) France is at a lower point on its long-run Phillips curve and so has lower inflation than the United States. (C) France's Phillips curve is to the left of that of the United States, possibly because they have higher inflation. (D) France's Phillips curve is to the right of that of the United States, possibly because they have more generous unemployment compensation.

25. If the U.S. dollar decreases in value relative to other currencies, how does this affect the aggregate demand curve? (A) This will move the economy up along a stationary aggregate demand curve. (B) This will move the economy down along a stationary aggregate demand curve. (C) This will shift the aggregate demand curve to the left. (D) This will shift the aggregate demand curve to the right.

1. What is the correct way to describe the demand schedule? (A) \( Q = 20 + 10P \) (B) \( \mathrm{P} = -2 + 1 / 10\mathrm{Q} \) (C) \( Q = 20 - 10P \) (D) \( \mathrm{P} = 10 - 1 / 20\mathrm{Q} \)

2. If cod fish is taxed at $3 a kilogram, who pays the tax respectively? (A) Consumers pays $0 per kilogram, and suppliers pay $3 per kilogram (B) Consumers pays $1 per kilogram, and suppliers pay $2 per kilogram (C) Consumers pays $2 per kilogram, and suppliers pay $1 per kilogram (D) Consumers pays $3 per kilogram, and suppliers pay $0 per kilogram (Question 3-5) The market demand schedule and total cost schedule for lemonades at NTPU campus are in the following table (per hour number). Answer the following questions. | Price (dollars per bottle) | Quantity (bottles per hour) | Total cost (dollars per hour) | | --- | --- | --- | | 8 | 0 | 1 | | 7 | 1 | 2 | | 6 | 2 | 4 | | 5 | 3 | 7 | | 4 | 4 | 11 |

| 3 | 5 | 16 | | 2 | 6 | 22 | | 1 | 7 | 29 | 3. Which of the following statements is correct? (A) Marginal cost is constant. (B) Marginal revenue is constant. (C) Market demand curve is sloping downward. (D) Supply curve is vertical.

4. Suppose you are the only one who provides lemonade on the NTPU campus. (You are a local monopoly.) What price would you charge? (A) $6 (B) $5 (C) $4 (D) $3

5. Suppose you are facing the same cost schedule and your classmates are free to start a new lemonade stand to compete with you (You are facing perfect competition.) However, the market price for a lemonade is 3 dollars each now. What is your economic profit per hour? (A) $5 (B) $3 (C) $1 (D) $0

6. In the figure on the above, the marginal cost curve is curve (A) A. (B) B. (C) C. (D) D. | | | Uber Eats | | | --- | --- | --- | --- | | | Campaign Choices | Yes | No | | Food Panda | Yes | UE: $5 FP: $5 | UE: $1 FP: $30 | | | No | UE: $30 FP: $1 | UE: $20 FP: $20 |

7. Uber Eats and Food Panda must decide whether or not to start a promotional campaign in the Sanxia area. The potential economic profit by each food delivery services, depicted in the payoff matrix above, depends on whether the other service also start a campaign. Which of the following statements is true? (A) If Food Panda starts a campaign and Uber Eats does not, Food Panda will earn a $20 million economic profit. (B) If Uber Eats starts a campaign and Food Panda does not, Uber Eats will earn a $20 million economic profit. (C) The Nash Equilibrium of the game is when both Food Panda and Uber Eats do not a campaign. (D) Food Panda and Uber Eats can work out a joint strategy that can generate an outcome better than the Nash Equilibrium. Price (dollars per kilogram) Quantity (kilograms of salmons)

8. In the figure above, which movement represents an increase in quantity demanded but NOT an increase in demand? (A) From point c to point a. (B) From point c to point b. (C) From point c to point d. (D) From point c to point e.

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