All 20 multiple choice questions will be graded (4 raw points for the correct answer, -1 raw point for the incorrect answer, 0 points for no answer). Choose one answer in each question
1. The local grocery store offers a discount of 20% if a customer pays the 10 USD monthly fee. How much should a customer's monthly spending in this store be so that paying this fee makes sense for her?
1) At least 10 USD? ? ? ? 2) At least 30 USD? ? ? ? 3) At least 50 USD? ? ? ? 4) At least 60 USD
2. Countries A, B and C produce only watermelons (X) and grapefruits (Y). The production possibility frontiers are given by: Xg+Y4= 100, 2Xp+3Yp = 300, Xc+2Yc = 600. What is themaximum amount of watermelons that they can produce together if they want to produce at least 200 grapefruits?
1) 200? ? ? ? 2) 500? ? ? ? 3) 600? ? ? ? 4) None of the above
3. GDP of the country X grows by 1% per year every year. GDP of the country Y grows by 2% per year every year. If in the year 2019 countries have equal GDP, by what year will their GDP differ by two times? (Choose the nearest estimate)
1) 2050? ? ? 2) 2090? ? ? ?3) 21500? ? ? ?4) 2180
4. Jane spends all her money on the ingredients of her favorite cocktail. To make a portion ofthe cocktail, she has to mix 200 ml of orange juice with 100 ml of apple juice and with 200 ml of water. Any juice costs 3 USD per liter, water costs 0.5 USD per liter. If she has 20 USD, how many portions of the cocktail can she make? 1) 10? ? ? ? 2) 12? ? ? ? 3) 20? ? ? ? ?4) None of the above
5. Which of the following statements best describes the concept of commitment device?
1) A student announces through social media that he will contribute to charity every time he gets a grade lower than B-and publish the receipts online.
2) A country leader announces the new policy of fighting corruption through increased fines for corrupt officials.
3) An investor buys treasury bonds.
4) The price of ice-creams increases after a surge in demand.
1. The local grocery store offers a discount of 20% if a customer pays the 10 USD monthly fee. How much should a customer's monthly spending in this store be so that paying this fee makes sense for her? 1) At least 10 USD? ? ? ? 2) At least 30 USD 3) At least 50 USD 4) At least 60 USD
2. Countries A, B and C produce only watermelons (X) and grapefruits (Y). The production possibility frontiers are given by: Xg+Y4= 100, 2Xp+3Yp = 300, Xc+2Yc = 600. What is themaximum amount of watermelons that they can produce together if they want to produce at least 200 grapefruits? 1) 200? ? ? ? 2) 500 3) 600 4) None of the above
3. GDP of the country X grows by 1% per year every year. GDP of the country Y grows by 2% per year every year. If in the year 2019 countries have equal GDP, by what year will their GDP differ by two times? (Choose the nearest estimate) 1) 2050 2) 2090 3) 21500? ? ? ?4) 2180
4. Jane spends all her money on the ingredients of her favorite cocktail. To make a portion ofthe cocktail, she has to mix 200 ml of orange juice with 100 ml of apple juice and with 200 ml of water. Any juice costs 3 USD per liter, water costs 0.5 USD per liter. If she has 20 USD, how many portions of the cocktail can she make? 1) 10? ? ? ? 2) 12 3) 20 4) None of the above
5. Which of the following statements best describes the concept of commitment device?1) A student announces through social media that he will contribute to charity every time he gets a grade lower than B-and publish the receipts online. 2) A country leader announces the new policy of fighting corruption through increased fines for corrupt officials.
3) An investor buys treasury bonds.
4) The price of ice-creams increases after a surge in demand.