Midsemester 1

Midsemester 1 - ECON 200 Mid-semester Test 1 Friday,...

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ECON 200 Mid-semester Test 1 Friday, January 19 th , 2007 – 9:30am FIVE MINUTES reading time allowed DURATION: One hour. Translation dictionaries are allowed. No specialist dictionaries in any subject (especially economics!). Non-programmable calculators are permitted. Attempt all questions , and clearly indicate which question you are attempting. Note : Some questions have internal choice. (Questions 1 and 3) The exam will be marked out of 50 It will count for 20% of your final mark in this course. Question One (12 marks) – Microeconomic Concepts Suggested time: 15 minutes Based on what you have learned in this course, explain the following concepts. Include any graphs and/or equations and/or examples you can think of to aid your explanation. In EACH part, only explain ONE of the options. (For example, for (i) – attempt to explain either ‘Comparative Statics’ or ‘The Pareto Criterion’, not both.) (i) Comparative Statics OR Pareto Criterion (3 marks) (ii) Perfect Complements OR Preference Ordering ( 3 marks ) (iii) Utility Function OR Income Effect ( 3 marks ) (iv) Weak Axiom of Revealed Preference OR Market Demand Function ( 3 marks )
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This note was uploaded on 05/30/2008 for the course ECON 200 taught by Professor Donald during the Three '05 term at Macquarie.

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Midsemester 1 - ECON 200 Mid-semester Test 1 Friday,...

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