SampleM1exam

SampleM1exam - NAME: Student number: IS and Econ 13 -...

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NAME: Student number: IS and Econ 13 - Sample First Midterm Examination S. Skaperdas Version A READ THE FOLLOWING CAREFULLY 1. Relax and take a deep breath 2. There are two parts. Part A consists of a short essay question that is worth 10 points. Part B consists of 21 multiple choice questions and each question is worth 1 point. 3. Write your name and your student number above. 4. Fill in your scantron, INCLUDING YOUR VERSION (A) . Be sure to mark (blacken) the appropriate boxes. (You will not get a grade otherwise.) PART A Use the space below the question to write your answer. Pay attention to your writing and remember that more does not mean better. Has the expansion of markets since the late 19 th century been accompanied by a reduction or expansion of the size of government? Provide some possible reasons for this development. (10 points)
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PART B . 1. A country is producing at a point on its PPF (“production possibilities frontier”) but it consumes at a point above its PPF. From this economists would conclude that a. technology has advanced at a more rapid pace than population. b. the country has an absolute advantage producing all goods. c. the country prohibits free trade. d. the country trades with the rest of the world. e. the country has a comparative advantage producing all goods. 2. Most people in low-income countries have purchasing power that is a. about the same as the income per capita of Mexico. b. about half the U.S. per capita income. c. less than one hundredth of U.S. per capita income. d. lower than the income per capita of Mexico e. about twice the income per capita of Mexico.
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This note was uploaded on 02/20/2009 for the course ECON 62020 taught by Professor Skaperdas during the Winter '09 term at UC Irvine.

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SampleM1exam - NAME: Student number: IS and Econ 13 -...

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