HORIMI B here are 60 questions on this exam, each of which is worth 7.08 points.
ID: 1128019 • Letter: H
Question
HORIMI B here are 60 questions on this exam, each of which is worth 7.08 points. That gives a total of 0708) 424.8 points. EVERYONE will then get 0.2 points FOR FREE, bringing the total to 25 points. You also get one point of EXTRA CREDIT for doing the following: (a) PRINTING our given name and your family name and your ID number LEGIBLY on BOTH the exam and the score sheet; (b) filling in the bubbles for your name and your ID number correctly on the score sheet. On the syllabus, I stated that the exam has a total of 425 points. But if you PRINT your name LEGIBLY on BOTH the exam and score sheet, you could actually get 426!!!! Wow! Isn't that cool? Please fill the circle on your score sheet corresponding to the correct answer. THERE IS NO PENALTY FOR GUESSING. Therefore, it is in your interest to answer every question. Unless an explicit statement is made to the contrary, you may assume throughout this exam that market demand curves slope downward as we go from left to right, market supply curves slope upward, marginal-cost curves slope upward, production-possibilities frontiers are concave with respect to the origin, and marginal-utility curves slope downward. 1. Which of the following is NOT among the primary concerns of microeconomics? a. The behavior of households. b· The behavior of business firms. c. The interactions of households and business firms in markets. d. The overall rate of unemployment. e. None of the above: Each of these is a primary concern of microeconomics. 2. An inventor develops a new technique for producing camera-equipped drones. The new technique makes it possible to produce drones of comparable quality, using fewer resources than earlier techniques. As a result of this technological improvement, what will happen in the market for camera- equipped drones? a. The supply curve will shift to the right. b. The supply curve will shift to the left. c. The demand curve will shift to the right. d. The demand curve will shift to the left. All of the above! Amazingly, supply will shift both to the left and to the right, and demand e. Il shift both to the left and to the right, all at the same time!Explanation / Answer
Question1:- (Option D) Overall level of unemployment is a concern of macroeconomics
Question2:- (Option A) Supply curve will shift to the right.
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