Assume an equilibrium price of $7 and equilibrium quantity of 8 units at demand D and supply S2 in the graph shown. Total surplus is:
A. $12.
B. $32.
C. $16.
D. $56.
Answer: B
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Refer to the figure below. Player B can infer that Player A will: 
A. choose Down when B chooses Left and choose Up when B chooses Right. B. always choose Up. C. always choose Down. D. choose Up when B chooses Left and choose Down when B chooses Right.
The Heckscher-Olin model uses differences in factor abundance to determine whether any nation has a comparative advantage in any good
a. True b. False Indicate whether the statement is true or false
Suppose the cost function is C(Q) = 50 + Q ? 10Q2 + 2Q3. What is the total cost of producing 10 units?
A. $2,060 B. $1,060 C. $1,010 D. $560
One way for a country to gain some monetary policy independence and provide some ability to reduce exchange-rate variability is to use
A. a managed floating exchange rate. B. a monetary union. C. a gold standard. D. a currency board.