Severson family owns a house worth \( \$ 280,000 \), of which they still owe \( \$ 113,545 \) on the morte ey also own two cars, one worth \( \$ 5,200 \) and the other worth \( \$ 15,600 \). They still owe \( \$ 9,200 \) or the car loans. They have \( \$ 2,300 \) in credit card debt and owe \( \$ 18,200 \), for their daughter's wer hat is their net worth? \( \$ 143,245 \) \( \$ 157,555 \) \( \$ 162,155 \) \( \$ 300,800 \)

QUESTION 13 Which of the following is least likely to be associated with market failure, and is consequently least likely to require any form of state regulation or intervention? a) Hake fishing off the west coast of South Africa. b) The provision of education services in government schools. c) The provision of education services in private schools. d) The market for fast foods.

An economy is at equilibrium output when a) \( Y=C+I+G+(X-M) \) b) \( Y=A D+C+G+(X-M) \) c) \( Y=A D+C+I+G+(X-M) \) d) \( Y=A D+C+1+G \)

QUESTION 21 Suppose the nominal exchange rate between the Japanese yen and the UK pound is 100 yen per pound. Further, suppose that a kilogram of rice costs \( £ 2 \) in the UK and 250 yen in Japan. What is the real exchange rate between Japan and the UK? a) 2.5 kilograms of Japanese rice per kilogram of UK rice. b) 0.5 kilograms of Japanese rice per kilogram of UK rice. c) 1.25 kilograms of Japanese rice per kilogram of UK rice. d) 0.8 kilograms of Japanese rice per kilogram of UK rice.

QUESTION 17 When the reserve bank prints more money and increases the money supply, this will cause prices a) Decrease b) Stabilise c) Increase d) Fluctuate

An economy is at equilibrium output when a) \( Y=C+1+G+(X-M) \) b) \( Y=A D+C+G+(X-M) \) c) \( Y=A D+C+I+G+(X-M) \) d) \( Y=A D+C+I+G \)