Answers and Explanations
1、Macro
1. B
Explanation: A multinational company (MNC) is defined as a firm that owns or controls production or service facilities in more than one country.
2. D
Explanation: The supercomputer belongs to physical capital can boost the UK’s economy.
3. A
Explanation: Amount spent in yen = 6,300,000 X ¥175.16 = 1,103,508,000 yen.
4. D
Explanation: Direct taxes are taxes that are levied directly on individuals or organizations and are paid directly to the government (income tax and corporation tax).
5. A
Explanation: Elasticity of supply refers to how responsive the quantity supplied is to changes in price. If supply is elastic (greater than 1), it means that producers can easily increase the quantity supplied in response to price changes (such as from subsidies).
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2、Micro
1. A
Explanation: Opportunity cost is the next best alternative foregone. By leaving her job, Margaret gives up her bank salary.
2. C
Explanation: Merger is two independent firms combine to form a single business.
3. D
Explanation: Variable costs increase as output rises. Since total costs include variable costs, total costs also increase when output rises. Fixed costs do not change. Marginal costs typically decrease initially as output increases, due to economies of scale.
4. D
Explanation:
2024 productivity = 605 ÷ 506,180 ≈ ¥1.195 million per employee.
2025 productivity = 775 ÷ 508,180 ≈ ¥1.525 million per employee.
Change = 1.525 ÷ 1.195 - 1 ≈ 28% increase.
5. D
Explanation: In monopolistic competition, many firms sell differentiated products with some degree of brand distinction. Each has limited pricing power, since substitutes exist.
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3、Quantitative
1. B
Explanation: In a simple linear regression, the line always passes through the mean of both variables. So given the mean of X, the mean of Y, and the intercept a, you can find the slope b using:

2. C
Explanation: The total possible outcomes are 36, The favourable outcomes include: A = 2, B = 1; A = 3, B = 1,2; A = 4, B = 1,2,3; A = 5, B = 1,2,3,4; A = 6, B = 1,2,3,4,5. Thus, the probability that A > B = (1+2+3+4+5)/36 = 42%.
3. A
Explanation: Since there are equal numbers of red and blue balls (6 each out of 12 total). The draws are independent because the selection is with replacement. To get balls of different colors, two cases are possible: Red first, then blue, or blue first, then red. Therefore, the probability of getting one red and one blue ball (in any order) is (0.5 x 0.5) * 2 = 0.5.
4. D

5. A
Explanation: In statistics, a complete statistic is one that contains all possible information about a population parameter. However, for it to be useful in estimation, it must also be sufficient — meaning it captures all information about the parameter contained in the sample data.
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