NATIONAL ECONOMICS OLYMPIAD(NEO) 2022 – SECOND ROUND

Three sisters, Ann, Beth and Cindy, bought a bag of 30 cookies together.  Each of them received 10 cookies. Ann paid 80 cents, Beth paid 50 cents and Cindy paid 20 cents. If they had divided the cookies proportionally to the price each paid, how many more cookies   would Ann have received? (4 points)

• 10

• 9

• 8

• 7

• 6

 Ane bought 3 toys. For the first toy she paid half of her money and EUR1 more. For the second toy she paid half of the remaining money and EUR2 more. Finally, for the third toy she paid half of the remaining money and EUR3 more, thus spending all of her money. How much money did she have initially? (4 points)

    

• EUR36

• EUR45

• EUR34

• EUR65

• EUR100

A journey from Košice to Poprad through Prešov lasts 130 minutes. The part of the journey from Košice to Prešov lasts 35 minutes. How long does the part of the journey from Prešov to Poprad last? (4 points)

• 95 minutes

• 105 minutes

• 115 minutes

• 165 minutes

• 175 minutes

Some diluted juice is to be made out of concentrate and water in the ratio  by volume.   Juice concentrate is in a 1-litre flask, and the flask is half full.  What fraction of this concentrate should be used to produce 2 litres of diluted juice? (4 points)

• 1/4

• 1/2

• 2/7

• 4/7

• All of the concentrate.

60 apples and 60 pears are packed into boxes so that each box contains the same number of apples, and no two boxes contain the same number of pears. What is the largest possible number of boxes that can be packed in this way? (4 points)

• 20

• 15

• 12

• 10

• 6

 Liam spent all his money buying 50 soda bottles at the store for 1 Euro each. He sells each bottle at the same higher price. After selling 40 bottles, he has 10 Euros more than he started with. He then sells all the remaining bottles. How much money does Liam now have?

 (4 points)

• 70 Euro

• 75 Euro

• 80 Euro

• 90 Euro

• 100 Euro

When Ria and Flora compared their savings, they found that the ratio of their savings was 5 : 3. Then Ria bought a tablet for 160 Euro and the ratio of their savings changed to 3 : 5. How many Euro did Ria have before buying the tablet? (4 points)

 

• 192

• 200

• 250

• 400

• 420

Elisabeta had a large bag of 60 chocolates. She started by eating one 10th of them on Monday, then one 9th of the remainder on Tuesday, then one 8th of the rest on Wednesday, then one 7th on Thursday and so on until she eats half of the remaining chocolates from the previous day. How many chocolates does she have left? (4 points)  

• 1

• 2

• 3

• 4

• 6

Country A uses sterling and has a GDP per head of £30,000. Country B uses another currency. If this is converted to sterling at the current exchange rate, its GDP per head is £5,000. Which of the following statements is false? (4 points)

• To get a better comparison of output per head, it would be better to convert country B's currency into sterling using purchasing power parities (PPPs).

  ountry are similar.

• If PPPs were used, it is most likely that B's output per head would seem closer than it does using exchange rates.

• Exchange rates generally settle so that the prices of tradable products in each country are similar.

• PPPs are the rates which ensure that the prices of all products in each country are similar

• None

 Suppose that, over time, the share of manufacturing industry in a country's GDP falls. Which of the following statements is true?

1. The quantity of the goods and services produced by manufacturing industry must be falling. 2.The value of the goods and services produced by manufacturing industry must be falling.

 (4 points)

• Both 1 and 2

• 1 only  

• 2 only   

• Neither 1 nor 2.

• None