Midterm1_Instructions - ECON 410: Midterm 1 Multiple Choice...

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Unformatted text preview: ECON 410: Midterm 1 – Multiple Choice Sequence Number: 1 Last Name: _______________________________________________________________________________ First Name: _______________________________________________________________________________ PID: ____________________________________________________________________________________ Onyen: __________________________________________________________________________________ Honor Code Signature: _____________________________________________________________________ Before you Begin: 1. On your scantron enter your Name and fill out the bubbles. 2. On your scantron, enter your PID in the “Identification Number” field and fill out the bubbles. 3. On your scantron, enter your Sequence Number (above) in the “Sequence Number” field and fill out the bubbles. After you have Completed the Midterm: 1. Make sure you followed all instructions, above, for your scantron. Of particular importance is your PID and your Sequence Number. 2. Quietly bring your Scantron, your ID, your cheat sheet, and the Midterm itself to a TA. Hand everything to a TA, who will return your ID and cheat sheet if everything is filled out correctly. What you are Allowed to Use During the Midterm (anything else will be considered an Honor Code violation): 1. 1-side of an 8.5 x 11” sheet of paper with anything on it visible to your naked eye. 2. A straight-edge 3. A pencil 4. Your brain What to do if you Have a Question: 1. We will not answer questions during the test. If you are certain a question has been written incorrectly or has multiple correct answers, please write a brief explanation on your Midterm next to the problem. Your Regrade Request can then refer to your stated explanation. Photocopy Notice 1. We will be photocopying a random sample of the Midterms to keep on file for verification purposes. Assorted Notes: 1. For all problems, assume that it is always possible to purchase fractional amounts of goods. 2. For all problems, assume only non-negative (greater or equal to zero) amounts of goods can be purchased. 3. Funny-looking answers do not necessarily mean you did something wrong. In some cases, the funny-looking answer may be completely right. In other cases, (for instance, if you find that the optimal bundle has a negative amount of one of the goods) it might mean that an interior solution does not exist. 4. Please remember that for a certain property of a preference to hold, it must hold everywhere. 5. Please remember that a certain property of a preference holds unless you can find a violation of it. 6. Use only the information given to you in the problem statement. 7. While “buy-one/get-one-free” implies you get a free product when you purchase a good, it also implies that you must offer the same deal if you sell the good. 8. There are a total of 60 points available on the Midterm: - 10 Multiple Choice questions worth 4 points each. - 2 Long-Form Questions worth 10 points each. Square Root Table (Number on the left is the number. Number to its right is its square root.) 1 2 3 4 1.0 21 22 4.6 7.9 81 82 9.0 6.5 61 62 7.8 4.7 41 42 6.4 1.4 1.7 2.0 23 24 4.8 4.9 43 44 6.6 6.6 63 64 7.9 8.0 83 84 9.1 9.2 5 6 7 2.2 25 26 27 5.0 45 46 47 6.7 65 66 67 8.1 85 86 87 9.2 8 9 10 2.8 28 29 30 5.3 48 49 50 6.9 68 69 70 8.2 88 89 90 9.4 31 32 33 5.6 51 52 53 7.1 71 72 73 8.4 91 92 93 9.5 34 35 36 5.8 54 55 56 7.3 74 75 76 8.6 94 95 96 9.7 6.1 7.5 8.8 8.9 97 98 99 9.8 7.6 7.7 77 78 79 8.8 6.2 6.2 57 58 59 6.3 60 7.7 80 8.9 100 10.0 2.4 2.6 3.0 3.2 11 12 13 3.3 14 15 16 3.7 17 18 19 4.1 4.2 4.4 37 38 39 20 4.5 40 3.5 3.6 3.9 4.0 5.1 5.2 5.4 5.5 5.7 5.7 5.9 6.0 6.8 6.9 7.0 7.1 7.2 7.3 7.4 7.5 8.1 8.2 8.3 8.4 8.5 8.5 8.7 8.7 9.1 9.3 9.3 9.4 9.5 9.6 9.6 9.7 9.8 9.9 9.9 ...
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