Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. If twelve microwave ovens are produced, Micro Oven's total costs are
A. $300.
B. $500.
C. $800.
D. $1,300.
Answer: C
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The payoff matrix below shows the daily profit for two firms, Row Restaurant and Column Cafe, for two different strategies, publishing coupons in the student paper and not publishing coupons in the student paper. 
The payoffs of this game are such that:
A. both firms would benefit from a law that made publishing coupons illegal. B. an agreement not to publish coupons would be easy to maintain because neither firm has an incentive to defect. C. profit at each firm is higher when they both follow their dominant strategy than when they both follow their dominated strategy. D. if Row Restaurant expects Column Cafe to choose its dominant strategy, then Row Restaurant should choose its dominated strategy.
Economies that adopt more open trade policies have often historically enjoyed faster economic growth rates as a result. This is an example of what kind of statement?
A. Marginal B. Normative C. Positive D. Biased
When we look at exchange rates btwn two countries, what is the relationship between the exchange rate expressed in units of the domestic currency and the exchange rate expressed in units of the foreign currency?
a. They are both equal to one. b. They cancel each other out. c. One is always the reciprocal of the other. d. They can never coexist.
A union that pursued a policy of restricting entry over time into the union would
A) see real wages hold constant over time at whatever premium they could get initially. B) also have to negotiate to be sure that all the members were able to find jobs. C) generate rising real wages for its membership over time as long as demand for union workers increased over time. D) fail to obtain benefits for their workers in excess of what the workers would get under open markets.