Suppose you put $1,000 aside for a vacation in Mexico. On your flight to Cancun, the passenger seated next to you says: "Did you hear the good news? We can do and buy more on our vaction now.". You ponder the comment and say to yourself:
a. "I bet there's a new tariff on American goods.".
b. "I bet there's a new tariff on Mexican goods.".
c. "Perhaps the exchange rate, dollars per peso, increased.".
d. "Perhaps the exchange rate, pesos per dollar, increased.".
e. "Perhaps the exchange rate, pesos per dollar, decreased.".
D
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In the long-run ISLM model and with everything else held constant, the long-run effect of a tax cut is to ________ real output and ________ the interest rate
A) increase; increase B) increase; not change C) not change; increase D) not change; decrease
Large scale family farms represent about 10% of all farms and produce:
a. Over half of the value of farm production b. About 10% of the value of production c. Less than 10% of the value of production d. About 20% of the value of production
Consider the accompanying payoff matrix. 
Suppose both players make their choices simultaneously and independently. What is the Nash equilibrium of this game?
A. Player A chooses Up and player B chooses Right. B. Player A chooses Down and player B chooses Right C. Player A chooses Up and player B chooses Left. D. Player A chooses Down and player B chooses Left.
If two choices are the same but one is presented in a positive manner and one in a negative context, people:
A. respond differently because of the framing effect. B. are rational and respond the same. C. respond differently because of the endowment effect. D. respond the same because of the endowment effect