Macro-Economics FINAL EXAM 200+ (Latest Edition) 100% Verified Q&A + Answer Key Solutions

MACRO-ECONOMICS FINAL
EXAM
200+ (Latest 2025-2026 Edition) 100% Verified Q&A + Answer Key
Solutions


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,Question 1
The Farm​Factory, a booth at the local​Farmer's Market, sells fresh eggs for​$1.50 per dozen and fresh milk
for​$2.50 per gallon. What is the opportunity cost of buying a gallon of​milk?
Correct Answer

1​2/3 dozen eggs




Question 2
There is often a trade-off between
Correct Answer

economic efficiency and economic equity.




Question 3
The figure to the right represents the market for coffee grinders. Assume that the price of coffee grinders
is​$50. At this​price:




Correct Answer

there is a surplus equal to 90 coffee grinders that will be eliminated when the price falls to​$25.

,Question 4
Doctors have​________ incentive to control their costs when consumers​________ for a visit to the​doctor's
office.
Correct Answer

ess; only pay a deductible




Question 5
Which of the following statements about economic resources is false​?
Correct Answer

Economic resources include financial capital and money.




Question 6
Suppose that Reebok successfully implements 3D printing technology in several of its shoe​models, and
this investment in technology allows the company to reduce the number of employees used to
manufacture these shoes. All else​equal, this technological improvement would​________ the equilibrium
price for its products and​________ the equilibrium quantity consumed.
Correct Answer

​decrease; increase

, Question 7
The figure shows the market for cigarettes. The government plans to impose a​per-unit tax in this market.




Correct Answer

​Yes, because producers are not selling as many units now.




Question 8
The figure to the right shows the market for apartments in Bay City. ​Recently, the government imposed a
rent ceiling at R0.

Suppose that instead of a price​ceiling, the government imposed a price floor of R1. What is the area
representing consumer surplus after the imposition of the price​floor?
Correct Answer

A




Question 9
Assume that the graphs in this figure represent the demand and supply curves for frozen yogurt. Which
panel describes what happens in the market for frozen yogurt when the price of ice​cream, a substitute​
product, increases?
Correct Answer

Panel​(c)