m1S07 - ECON-2 Spring 2007 Midterm I(Version A Instructions...

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ECON-2 Spring 2007 Midterm I (Version A ) Instructions BLUEBOOK : square4 Don’t forget to write your name and your UCLA 9-digit ID square4 On the UPPER RIGHT CORNER of the cover page write your exam version and TA CODE (see table below for TA codes) SCANTRON FORM : square4 On the UPPER RIGHT CORNER write your exam version and TA CODE square4 Fill out the following fields (always write from left to right) Last Name First Name Identification #: UCLA 9-digit ID. Make sure it is correct !!! No cell phones or pager on desk. All hat rims turned backwards Be sure you are in the right room ( 20 points deduction ) square4 Rolfe 1200: Last name ACEVES to JUAREZ square4 Haines 39: Last name KAPLAN to ZHENG No pen or pencil in hand when turning in exam ( 20 points deduction ) Stop writing when time is over ( 25 points deduction ) There will be no office hours after the exam. TA NAME CODE SECTIONS Fukui, Tani 10 1G, 1J Liao, Pei Ju 20 1I, 1N Robles, Miguel 30 1F, 1O Sodsriwiboon, Piyaporn (Nikki) 40 1L Yang, Jie (Joy) 50 1A, 1B Don’t know 60
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Part I. Multiple Choice Questions: Select the choice that BEST answers the questions. 2 points each. MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Which version is your exam? A) A B) B C) C D) Give me an F 2) You own The Wizard of Oz on DVD. The opportunity cost of watching this DVD for the second time 3) Studying how the management of US Steel, a large steel - producing company, decides how many tons of steel to produce and the price to charge for its steel would be considered 4) If the slope of a straight line is 5 and if X (the variable on the horizontal axis) increases by 10, then Y (the variable on the vertical axis) will 5) According to the theory of comparative advantage, specialization and free trade will benefit A) only that trading party that has an absolute advantage in the production of all goods. B) all trading parties, even when some are absolutely more efficient producers than others. C) all trading parties under certain circumstances. D) only that trading party that has a comparative advantage in the production of all goods.
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