In the figure above, D0 is the demand for labor curve. Imposing a min

1.Refer to Figure 2.1.2. If the price of coffee decreases, from $7.50 to $6.00 per pound, which of the following will occur? 选项： A:The quantity demanded of coffee will increase, from 6 to 7 million pounds per year. B:The demand curve will shift to the right and the quantity demanded will increase to 10 million pounds per year. C:Both moves, from A to B and then from B to C, will occur simultaneously. D:) It is possible that the market demand will show the move fro A to B, or that it moves directly from A to C

2.A small country imports T-shirts. With free trade at a world price of $10, domestic production is 10 million T-shirts and domestic consumption is 42 million T-shirts. The country’s government now decides to impose a quota to limit T-shirt imports to 20 million per year. With the import quota in place, the domestic price rises to $12 per T-shirt and domestic production rises to 15 million T-shirts per year. If the government auctions the quota licenses, calculate the revenue collected by the government. 选项：A、$40 millionB、$70 millionC、$200 millionD、$240 million

3.The nation's population continues to rise at a speed of 12 million per year.

4.A small country imports T-shirts. With free trade at a world price of $10, domestic production is 10 million T-shirts and domestic consumption is 42 million T-shirts. The country’s government now decides to impose a quota to limit T-shirt imports to 20 million per year. With the import quota in place, the domestic price rises to $12 per T-shirt and domestic production rises to 15 million T-shirts per year. The quota on T-shirts causes domestic consumers to: 选项：A、gain $7 million.B、lose $7 million.C、lose $70 million.D、lose $77 million.

5.Which range of hours is considered “moderate” for a teenager to work while in high school?选项： A:15-20 hours per week. B:21-25 hours per week. C:26-30 hours per week. D:31-35 hours per week.

6.A firm pays Pam $40 per hour to assemble personal computers. Each day, Pam can assemble 4 computers if she works 1 hour, 7 computers if she works 2 hours, 9 computers if she works 3 hours, and 10 computers if she works 4 hours. Pam cannot work more than 4 hours day. Each computer consists of a motherboard, a hard drive, a case, a monitor, a keyboard, and a mouse. The total cost of these parts is $600 per computer. If the firm sells each computer for $650, then how many hours a day should the firm employ Pam to maximize its net benefit from her employment?选项： A:3 hours; B:4 hours; C:1 hour; D:2 hours

7.A firm pays Pam $40 per hour to assemble personal computers. Each day, Pam can assemble 4 computers if she works 1 hour, 7 computers if she works 2 hours, 9 computers if she works 3 hours, and 10 computers if she works 4 hours. Pam cannot work more than 4 hours day. Each computer consists of a motherboard, a hard drive, a case, a monitor, a keyboard, and a mouse. The total cost of these parts is $600 per computer. If the firm sells each computer for $625, then how many hours a day should the firm employ Pam to maximize its net benefit from her employment?选项： A:1 hour; B:4 hours; C:3 hours; D:2 hours

8.Basic wage rate is £10 per hour, the basic work hour is 36 hours per week. The employee works 40 hours per week, the salary is calculated by time and a half basis. What wages should be paid to the employee that week. （）选项： A:360 B:400 C:420 D:460

9.In 2011, Chinese government raised sharply the poverty line, from 1274 yuan per year to 2300 yuan per year. （）

10.Mr. Cog has 18 hours per day to divide between labor and leisure. His utility function is U (C,R) = CR; where C is dollars per year spent on consumption and R is hours of leisure. If he has a nonlabor income of 40 dollars per day and a wage rate of 8 dollars per hour, he will choose a combination of labor and leisure that allows him to spend:选项： A:184 dollars per day on consumption. B:82 dollars per day on consumption. C:112 dollars per day on consumption. D:92 dollars per day on consumption.

11.Mr. Cog has 18 hours per day to divide between labor and leisure. His utility function is U (C,R) = CR; where C is dollars per year spent on consumption and R is hours of leisure. If he has a nonlabor income of 40 dollars per day and a wage rate of 8 dollars per hour, he will choose a combination of labor and leisure that allows him to spend:选项： A:82 dollars per day on consumption. B:92 dollars per day on consumption. C:184 dollars per day on consumption. D:112 dollars per day on consumption.

12.Jack has a backward-bending labor supply curve. At wages of $5 an hour he chooses to work 50 hours a week. His boss wants him to work more hours per week and off ers him $5 an hour for the first 50 hours per week and $7 an hour for every hour beyond 50 hours per week. Because of his backward bending supply curve, Jack might actually choose to work fewer hours.选项： A:对 B:错

13.Assume that labor is the only factor of production and that wages in the United States equal $20 per hour while wages in Japan are $10 per hour. Production costs would be lower in the United States as compared to Japan if 选项： A: U.S. labor productivity equaled 40 units per hour and Japan's 15 units per hour. B: U.S. labor productivity equaled 30 units per hour and Japan's 20 units per hour. C: U.S. labor productivity equaled 20 units per hour and Japan's 30 units per hour. D: U.S. labor productivity equaled 15 units per hour and Japan's 25 units per hour. E: U.S. labor productivity equaled 15 units per hour and Japan's 40 units per hour.

14.128) In the figure above, the efficient output of com-puters 1sA) 2 million per year.B) 3 million per year.C)4 million peD) the largest amount possible

15. Labor productivity is 选项： A、 real GDP per hour of labor times the hours of work. B、 real GDP per hour of labor times the number of people. C、 real GDP per hour of labor. D、 the rate of change in real GDP per hour of labor.

16.Assume that labor is the only factor of production and that wages in the United States equal $20 per hour while wages in Japan are $10 per hour. Production costs would be lower in the United States as compared to Japan if ______________.选项： A:U.S. labor productivity equaled 40 units per hour and Japan's 15 units per hour.; B:U.S. labor productivity equaled 30 units per hour and Japan's 20 units per hour.; C:U.S. labor productivity equaled 20 units per hour and Japan's 30 units per hour.; D:U.S. labor productivity equaled 15 units per hour and Japan's 25 units per hour.

17.What will be the impact on the aggregate supply curve of Canada if the government decides to increase taxes and decrease the maximum labor hours per day (holding the wages and labor constant)? 选项： A: Decrease in the aggregate supply B: Increase in the aggregate supply C: Both decisions have different impacts on aggregate supply

18.If the real exchange rate depreciates from 1 Japanese good per U.S. good to 0.5 Japanese good per U.S. good, then U.S. exports ______, and U.S. imports ______. 选项： A:increase; increase B:decrease; decrease C:increase; decrease D:decrease; increase

19.The labor demand curve remains unchanged, and the labor supply curve shifts to the left, and the impact on the Market equilibrium wage and Market equilibrium employment is（）选项： A: Decrease, Decrease; B:Decrease, increase; C:increase, decrease; D:increase, increase

21.Holding wages and labor constant, what will be the impact on the aggregate supply curve of Canada if the government decides to increase corporate income taxes and decrease the maximum labor hours per day? 选项： A: Decrease in the aggregate supply B: Increase in the aggregate supply C: Both decisions have different impacts on aggregate supply

22.Which of the following is the most likely result of imposing tariffs to increase domestic employment? 选项： A: A long-run reallocation of workers from export industries to protected domestic industries . B: A short-run increase in domestic employment in import industries from export industries . C: A decrease in the tariff rates of foreign nations . D: A decrease in consumer prices in the domestic market .

23.An analyst does research about retirement plan. An individual retiring today requires an annual income of $12 million. Inflation is expected to be 3.5% per year for the first ten year, followed by 4.5% per year thereafter. The annual income requirement in 25 years from today for this individual is closest to:（）选项： A、$31.22 million. B、$32.76 million. C、$36.07 million.