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If you have a price change of 50% and quantity change of 10%, is this unitary elastic, elastic or inelastic. 

A firm had sales revenue of $1 million last year. It spent $600,000 on labor, $150,000 on capital and $200,000 on materials. What was the firm’s accounting profit?

A monopolistically competitive uses branding and marketing to create pricing power. 

. Would you expect marginal utility to rise or fall with additional consumption of a good?

An entrepreneur decided to leave a job that pays $50,000 a year to start a business. These lost wages would be considered

A 45-year-old is diagnosed with macrocytic, normochromic anemia. The nurse suspects the most likely cause of this condition is:

From the previous problem on MN Test, what is your conclusion ? 

 A new drug for lowering blood pressure is tested. One group of 15 patients are given this drug, and their blood pressure levels are measured after 1 hour. The second group of another 15 patients are given a placebo (they don’t know this), and their pressure levels are measured as well.   To test the effect of the drug, we test if there is significant difference of these two data sets. Here is the summary of the blood pressures:  Drug group Sample mean 135 Sample s.d. 20 Placebo group Sample mean 145 Sample s.d. 25 Answer the question: Use rule of thumb, can we believe variances are equal for two group populations ? (True means Yes, and false means No)

D. El futuro: Un mensaje de Colombia. Carlota is writing an email to her mom from the Columbus International airport about her upcoming study abroad trip in Medellín, Colombia. Help her complete the following email by using the correct form of the verb in parentheses in the future tense. (2 pts. each: 1 pt. for correct conjugation, 1 pt. for correct verb; 8 pts. total) MODELO: La fecha del viaje del programa de intercambio será (estar / ser / haber) el día 24 de mayo.   Querida mamá: ¡Espero que estés muy bien y que no me extrañes mucho! Estoy esperando mi próximo vuelo para Medellín. Estoy segura de que (1.) [blank1] (haber / perder / dormir) muchos pasajeros ya que es un destino popular ahora. ¡Definitivamente no (2.) [blank2] (poder / ir / enviar) dormir porque estoy muy emocionada! Para organizarme, pienso escribir una lista en mi agenda con todas las actividades que nuestro grupo (3.) [blank3] (querer / necesitar / hacer) cuando llegue a Medellín. Después de ir a la residencia estudiantil, (nosotros) (4.) [blank4] (perder / hablar / correr) con la coordinadora del programa de intercambio antes de explorar la ciudad. Un beso,Carlota

Sección 2  |  VOCABULARIO [22 puntos en total]