pef07_midAb

pef07_midAb - W1105.002 Principles of Economics Fall 2007...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
W1105.002 Principles of Economics Fall 2007 Midterm Exam Instructions: Students will be seated at 2:40 pm The exam starts at 2:50 pm The exam ends at 3:55 pm Do not start until advised to do so The exam is closed books – no notes are allowed No calculators or cell-phones allowed The exams is composed of 3 sections, make sure you complete them all. The exams is printed on two booklets, verify you have received both.     Answer sheets for sections 1 and 3 are in booklet B. The answer sheet for section 2 is in booklet A. Hand in BOTH booklets at the end of the test. After reading the instructions, write your name and sign below then tear this page from the booklet and hand it to the TAs.  Student Name ______________________________ Signature ___________________________________________ 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2
Background image of page 2
W1105.002 Principles of Economics Fall 2007 Prof. Musatti Midterm Exam – Booklet A This Exam is composed of three sections. Make sure you complete all of them. This Exam is composed of two booklets. Make sure you return both. Student Name ______________________________    UNI ____________________________ Section 1: Multiple Choice Questions /20 Section 2: Definitions /9 Section 3: Exercises /37 Total /66 3
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
4
Background image of page 4
Section 1 1.  In the past five years, as the price of museum admissions in NYC decreased, the demand for tickets for Broadway and off-Broadway  shows increased. This seems to imply that  a. theatre shows and museum exhibitions are complement goods. b. during the same time median income has decreased in the city. c. theatre shows and museum exhibitions are unrelated goods. d. museum exhibitions are an inferior good. 2.  Helen’s marginal utility of a pound of apples is MUa= 12, while her marginal utility of a ball is MUb= 24. If the price of apples is $4 per  pound and the price of a ball is $12. Then Helen should a. leave her choices as they are. b. purchase fewer apples and more balls.
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 9

pef07_midAb - W1105.002 Principles of Economics Fall 2007...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online