[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-390324-105":3,"detail-sidebar-cat-0-en-105":81,"doc-detail-390324-en":130},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","course-2-sample-exam-questions","COURSE 2 - SAMPLE EXAM QUESTIONS","","A set of practice exam questions labeled “Course 2,” covering core topics in microeconomics and macroeconomics. Questions include indifference curve tangency and consumer choice under budget constraints, car ownership welfare calculations using marginal benefits and costs, GDP growth using real measures, and Phillips Curve model comparisons under expansionary policy. Additional items address elasticity concepts, deadweight loss from excise taxes, dominant-firm versus competitive-market output, IS-LM model interpretations, and sales tax incidence using supply and demand functions.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/exam/","Exam",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/document/course-2-sample-exam-questions/390324/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/course-2-sample-exam-questions/390324.png","ImageObject",300,407,{"name":42,"@type":43},"LangkahRina","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-31","2026-09-25",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",10,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"What does Question 1 ask about the indifference curve and budget line?","Question",{"text":63,"@type":64},"It asks how many units of meat are purchased when the budget line is tangent to an indifference curve (x+1)(y+1)=100, given that meat costs four times as much as broccoli.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How is the Phillips Curve comparison in Question 4 evaluated?",{"text":68,"@type":64},"It ranks three Phillips Curve versions by their predicted long-term increase in inflation under an expansionary policy, considering whether inflation expectations have no, partial, or full impact.",{"name":70,"@type":61,"acceptedAnswer":71},"What concept does Question 12 test regarding a sales tax?",{"text":72,"@type":64},"It tests tax incidence by asking what proportion of a 0.10 sales tax is borne by consumers using given demand, supply, and the tax rate.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},390324,1790499955,{"code":4,"msg":82,"data":83},"success",[84,88,92,95,100,105,110,115,120,123,126],{"id":22,"doc_module":4,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},"Story & Novel",90,"story-novel",{"id":26,"doc_module":4,"doc_module_name":25,"category_name":89,"show_sort_weight":90,"slug":91},"Literature",80,"literature",{"id":33,"doc_module":4,"doc_module_name":25,"category_name":29,"show_sort_weight":93,"slug":94},70,"exam",{"id":96,"doc_module":4,"doc_module_name":25,"category_name":97,"show_sort_weight":98,"slug":99},5,"Comic",60,"comic",{"id":101,"doc_module":4,"doc_module_name":25,"category_name":102,"show_sort_weight":103,"slug":104},6,"Technology",50,"technology",{"id":106,"doc_module":4,"doc_module_name":25,"category_name":107,"show_sort_weight":108,"slug":109},7,"Healthcare",40,"healthcare",{"id":111,"doc_module":4,"doc_module_name":25,"category_name":112,"show_sort_weight":113,"slug":114},8,"Research & Report",30,"research-report",{"id":116,"doc_module":4,"doc_module_name":25,"category_name":117,"show_sort_weight":118,"slug":119},9,"Religion & Spirituality",20,"religion-spirituality",{"id":118,"doc_module":4,"doc_module_name":25,"category_name":121,"show_sort_weight":118,"slug":122},"World Cup","world-cup",{"id":55,"doc_module":4,"doc_module_name":25,"category_name":124,"show_sort_weight":55,"slug":125},"Lifestyle","lifestyle",{"id":127,"doc_module":4,"doc_module_name":25,"category_name":128,"show_sort_weight":96,"slug":129},19,"General","general",{"code":4,"msg":82,"data":131},{"doc_id":79,"user_id":132,"nickname":42,"user_avatar":133,"doc_module":4,"category_id":33,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":139,"language":140,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":12,"update_tm":144,"read_time":145,"preview_page_count":4},962090893776,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","COURSE 2  \nSAMPLE EXAM QUESTIONS  \n1. Suppose that there are two items in the world, meat and broccoli. Knowing your income and the prices of meat and broccoli, you determine your budget line, and determine that it is tangent to an indifference curve. The formula for the indifference curve is:  \n(x + 1)(y + 1) = 100  \nwhere: x = units of meaty = units of broccoli  \nIf a unit of meat costs 4 times as much as a unit of broccoli, how many units of meat will you purchase?  \nA. 3  \nB. 4  \nC. 5  \nD. 6  \nE. 7  \n2. The total benefits and marginal costs of car ownership are given in the table below.  \nAssume there are no fixed costs.  \nCalculate the net gain from car ownership at the optimal number of cars owned.  \nA. 0  \nB. 1  \nC. 2  \nD. 3  \nE. 4  \n3. Assume the following for the first two quarters of Year 19XX:  \nQuarter 1  Quarter 2  \nSeasonally adjusted Gross  \nDomestic Product (in Billions) 1460.2 1495.2  \nImplicit price deflators 125.1 127.2  \nWhat was the annual rate of change in real Gross Domestic Product between the two quarters?  \nA. Less than 0.0%  \nB. At least 0 .0%, but less than 2.5%  \nC. At least 2 .5%, but less than 5.0%  \nD. At least 5 .0%, but less than 7.5%  \nE. At least 7.5%  \n4. The following statements describe three distinct versions of the Phillips Curve which models the relationship between unemployment and inflation:  \n1. The original Phillips Curve, in which expectations of inflation played no part.  \n2. The expectations augmented Phillips Curve, in which inflation expectations have a partial impact.  \n3. The expectations augmented Phillips Curve, in which inflation expectations have a full impact.  \nRank these three models in terms of their predicted long-term increase in inflation if the federal government adopts an expansionary policy.  \nA. 1 \u003C 2 \u003C 3  \nB. 1 \u003C 3 \u003C 2  \nC. 2 \u003C 1 \u003C 3  \nD. 3 \u003C 1 \u003C 2  \nE. 3 \u003C 2 \u003C 1  \n5. You are given the following National Income and Product account data from the Bureau of Economic Analysis of the Department of Commerce:  \nAccount  \n Consumption of fixed capital  Adjusted corporate profits  \nChange in business inventories Compensation of employees  \nGross private domestic investment Government purchases of goods and services Personal consumption expenditure  \nImports  \nExports  \n Billions of nominal dollars   \n426.2 842.7 389.3 9184.7 855.0 2104.7 8427.1 248.3 1003.2  \nCalculate the Gross Domestic Product in billions of nominal dollars.  \nA. 9,777  \nB. 10,632  \nC. 11,021  \nD. 12,142  \nE. 12,531  \n6. Given the following expectations augmented Phillips curve:  \np = −0.4 + 7 .6 (1 / U ) + 0.85pe  \nwhere: p = inflation rate in percentage points  \npe = expected inflation rate in percentage points  \nU = unemployment rate in percentage points  \nAssume the current unemployment rate is 6.  \nIn the long run, what is the rate of change in the inflation rate, with respect to a change in the unemployment rate?  \nA. -8.4  \nB. -1.4  \nC. 0.0  \nD. 1.4  \nE. 8.4  \n7. A relationship exists between the price elasticity of demand and the amount of deadweight loss that will result from the imposition of an excise tax. You are given the following assumptions and related illustrations:  \n(i) The supply curves for each of the three markets illustrated below are identical.  \n(ii) The imposition of an identical excise tax on each market causes each supply curve to shift upwards in a like fashion.  \n(iii) The initial equilibrium price and quantity for each market is identical.  \n(iv) Li = Deadweight loss for market i  \nMarket 1: High Price Elasticity  \nQuantity  \nMarket 2: Moderate Price Elasticity  \nQuantity  \nMarket 3: Low Price Elasticity  \nQuantity  \nRank the deadweight loss for these three markets.  \nA. L1 \u003C L2 \u003C L3  \nB. L1 \u003C L3 \u003C L2  \nC. L2 \u003C L1 \u003C L3  \nD. L3 \u003C L1 \u003C L2  \nE. L3 \u003C L2 \u003C L1  \n8. You are given:  \n1997  \n1998  \nIncome Price Quantity  \n30,000 15,000  \n1,000  \n40,000 15,000  \n1,200  \nCalculate the income elasticity of demand.  \nA. 0.60  \nB. 0.67  \nC. 0.80  \nD. 1.50  \nE. 1.67  \n9. Prices have ","cbCaiehEu3cJM1Il","https://ap.wps.com/l/cbCaiehEu3cJM1Il","pdf",648104,47,"English","# Course 2\n## Sample Exam Questions","[{\"question\":\"What does Question 1 ask about the indifference curve and budget line?\",\"answer\":\"It asks how many units of meat are purchased when the budget line is tangent to an indifference curve (x+1)(y+1)=100, given that meat costs four times as much as broccoli.\"},{\"question\":\"How is the Phillips Curve comparison in Question 4 evaluated?\",\"answer\":\"It ranks three Phillips Curve versions by their predicted long-term increase in inflation under an expansionary policy, considering whether inflation expectations have no, partial, or full impact.\"},{\"question\":\"What concept does Question 12 test regarding a sales tax?\",\"answer\":\"It tests tax incidence by asking what proportion of a 0.10 sales tax is borne by consumers using given demand, supply, and the tax rate.\"}]","COURSE 2 - SAMPLE EXAM QUESTIONS | PDF",1790332733,118]