Spring 2007 - Peters' Class - Exam 1 (Version A)

Spring 2007 - Peters' Class - Exam 1 (Version A) -...

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Economics 132 – Spring 2007 Midterm 1A Suggested Solutions Student Name: ____________________________________ Student ID #: ____________________________________ Instructions: 1. Count each page and confirm that you have a complete exam (5 pages plus title page) 2. You have 50 minutes to complete this exam (3:00 – 3:50 p.m.) 3. Answer all questions. 5. All answers must be written on the attached test sheets, in the spaces provided. 6. The exam is closed book; no notes, books, or other study aids are permitted. 7. The use of any paper that was not provided by the instructor during the exam period is prohibited. 8. Calculators and other personal electronic devices are prohibited. 9. Answer multiple choice questions in the blanks provided using capital letters (A,B,C,D). 10. Clearly label any graphs that you present, and clearly define any notation you use. 11. Your exam will not be eligible for re-grading if you use pencil, erasable pen, or any form of liquid paper on your exam. 12. If you submit your exam for re-grading, we reserve the right to re-grade the entire exam. 13. Keep your eyes on your own paper, and keep your paper out of view of your neighbors. 14. If you have any questions about the exam, please ask. STUDENT CONSENT FOR RELEASE OF STUDENT INFORMATION (Buckley Waiver) I hereby authorize the UCSD Economics Department to return my graded examination by placing it in a location accessible to all students in the course. I understand that the return of my examination as described above may result in disclosure of personally identifiable information, that is not public information as defined in UCSD PPM 160-2, and I hereby consent to the disclosure of such information. Quarter Spring 2007 Course Economics 132 Date April 23, 2007 Instructor Genevieve Peters Student ID# __________________________________________________________________________ Print Name ___________________________________________________________________________ Signature ____________________________________________________________________________
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Economics 132 Prof. Genevieve Peters Spring 2007 Midterm 1A Solutions Guidelines 1 Section 1: Multiple Choice (10 questions @ 1 point per question) ______ 1. Suppose that the price of natural gas is $15.75/Mcf. Which of the computations below correctly converts this price into $/MMBtu? A) ) / 25 ( ) / 75 . 15 ($ Mcf MMBtu Mcf B) ) / 8 . 5 ( ) / 75 . 15 ($ Mcf MMBtu Mcf C) ) / 178 . 0 ( ) / 75 . 15 ($ Mcf MMBtu Mcf D) ) / 035 . 1 ( ) / 75 . 15 ($ Mcf MMBtu Mcf ______ 2. British thermal units and __________ are both measures of ____________. A) newtons; force B) kilocalories; force C) newtons; heat energy D) kilocalories; heat energy ______ 3. Suppose that a coal-fired power plant has a thermal efficiency of 25%. How many Btu of coal would this plant need to produce 1 kWh of electricity? A) Btu 3412 B) 25 . 0 ) 3412 ( Btu C) 25 . 0 ) 3412 ( Btu D) 25 ) 3412 ( Btu ______ 4. The cross-price elasticity between gasoline and the internal combustion engine will be A) greater than zero B) less than zero C) equal to zero D) equal to one ______ 5. The price elasticity of supply for electricity is A) lower in the short run than in the long run. B) higher in the short run than in the long run. C) the same in the short run and the long run.
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Spring 2007 - Peters' Class - Exam 1 (Version A) -...

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