經濟
Economics

A student spends Saturday revising instead of taking a paid shift worth $480. She would otherwise have spent $60 travelling to work. Her opportunity cost of revising is best measured as:

1. $0
2. $420
3. $480
4. $540

Which change shifts the demand curve for bus journeys to the right, ceteris paribus?

1. A fall in bus fares
2. A rise in petrol prices when cars and buses are substitutes
3. A fall in bus operating costs
4. A binding maximum bus fare

If nominal GDP rises by 5% while the price level rises by 7%, real GDP approximately:

1. rises by 12%
2. rises by 2%
3. falls by 2%
4. falls by 12%

For a market, Qd=100−2P and Qs=20+2P. Find the competitive equilibrium price and quantity.

A specific tax of $10 per unit is imposed on sellers. Find the price paid by buyers, price received by sellers, quantity traded and tax revenue.

Suppose marginal external cost is constant at $10 per unit and there were no other distortions. Evaluate this tax using a diagram or marginal reasoning. Calculate the change in total surplus relative to leaving the externality unpriced.

Calculate real GDP growth from 2024 to 2025 using the index data. Then explain why nominal GDP growth overstates the change in output.

The government is considering a temporary infrastructure programme financed by borrowing. Analyse one channel through which it may lower cyclical unemployment and one reason the effect may be smaller than predicted.

Would a currency depreciation necessarily improve the trade balance immediately? Give a balanced explanation.