pes16midB_MC - W1105.002 Principles of Economics Spring...

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1 W1105.002 Principles of Economics Student Name________________________________ Spring 2016 Prof. Musatti Student UNI__________________________________ Midterm Exam – MC Booklet Version B Instructions: Please, do not start until you are instructed to do so. Students will be seated at 4:10 pm. The exam starts at 4:15 pm. The exam will end at 5:25 pm. The exam is closed book – no notes, no calculators, no smart phones. The exam is composed of this booklet and a two-sided answer sheet. Make sure you have received both and that this booklet is complete of all its 6 pages. At the end of the test, don’t forget to hand in this booklet with your answer sheet. Please, read this excerpt from the Faculty Statement of Academic Integrity and sign below. as students you must be scrupulously honest when taking your examinations; you must always submit your own work and not that of another student...” Signature ___________________________________________ Good Luck!
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3 MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Which of the following is the best example of an oligopolistic industry? A) designer clothes B) automobiles C) electric power D) grocery stores 2) For normal goods, the substitution and income effects of a price decrease will 3) The demand for all carbonated beverages is likely to be ________ the demand for Dr. Pepper.
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