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Exploring Microeconomics
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Chapter 5 / Exercise 6
Exploring Microeconomics
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1Exam #2Principles of Microeconomics – Econ1014Fall 2011Green versionFill out the front page of your scantron form as soon as you get the form.You will include your name, student ID and exam version on the scantronform.You will not be given time to do this after time is called, so make sure todo this before you start answering the exam questions.You will have 60 minutes to answer the following questions.Be sure to read directions carefully, use your exam copy to help you solvethe problems and transfer all your answers to the scantron form.You will not be given time to fill out any scantron answers after time iscalled, so make sure to do this before time is called.You must stop writing and put down your pen or pencil immediatelywhen you are told it is time to stop the exam. Failure to follow thesedirections is considered cheating and will result in a grade of zero for thisexam.You are allowed to use only a pencil, eraser and ruler for the exam. Anyother materials used or in sight are prohibited. In particular, you are NOTallowed the use of a calculator or any translation device.Failure to followthese directions is considered cheating and will result in a grade of zerofor this exam.
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Exploring Microeconomics
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Chapter 5 / Exercise 6
Exploring Microeconomics
Sexton
Expert Verified
21. Which of the following statements about free trade is true?
2. Which of the following is a reason why minimum wage legislation may not be very effective at reducing poverty in the US?
3. Refer to Figure A: If the figure above represents two possible Production Possibility Frontiers for a single economy, which of the following would provide a possible example of an economy experiencing a shift like that from PPF1 to PPF2? PPF1PPF2Agricultural GoodsManufacturedGoodsFigure A
3

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