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Unformatted text preview: Final Exam Version 1; Page 1 Economics 101 Professor Hertel Final Exam 5/17/2007 Student Name: ____________________________ID# ______________ Discussion # _______ DO NOT BEGIN WORKING UNTIL YOU ARE TOLD TO DO SO. READ THESE INSTRUCTIONS FIRST. You have 120 minutes to complete the exam, which consists of 43 multiple-choice questions. The exam is worth 130 points. Each question is worth 3 points: you get 1 point for filling in the requested information correctly. Please answer the questions on your coding sheet with a #2 pencil. Be sure to fill in the coding sheet carefully and accurately. How to fill in the coding sheet : 1. Print your last name, first name, and middle initial in the spaces marked "Last Name," "First Name" and "MI." Fill in the corresponding bubbles below. 2. Print your student identification number in the spaces marked "Identification Number." Fill in the bubbles. 3. Write the discussion section number for which you are officially registered under "Special Codes" spaces ABC , and fill in the bubbles. Discussion sections are as follows: 4. Finally, after filling in your section code, please put the version number in the Special Codes spaces . You will end up with a 4-digit Special Codes number a three digit section number followed by a one digit exam number. If you have a question during the exam, stay seated and please raise your hand. To show respect to your fellow students, please stay seated in your exam seat for the full 120 minutes. All exams and answer sheets must be turned in as you leave the exam. Relax. Stop, take a deep breath, and think carefully before you answer any questions. Good luck! 1. The University recently inherited a large mansion from a wealthy alumnus. The University plans to use the mansion for faculty parties and to house distinguished guests. The cost of the mansion to the university is: A) zero, because it was a gift. B) the cost of upkeepmaintenance, utilities, and so forth. C) how much the university would receive if it rented or sold the mansion, whichever is higher. D) both b and c. W 11:00am 342 F 1:20pm 346 F 9:55am 345 F 9:55am Woo Hyun Chang Alexander Yuskavage 336 R 3:30pm 328 W 9:55am 340 R 12:05pm 338 F 11:00am 343 F 1:20pm Yasushi Asako Chen-Yu Li Jiao Shi 329 W 9:55am 334 F 8:50am 330 W 8:50am 331 W 8:50am 339 F 11:00am 333 F 12:05pm 332 F 12:05pm 341 R 12:05pm 344 Final Exam Version 1; Page 2 E) the cost of upkeep plus what the university would receive if they rented the mansion out plus what they would receive by selling it. Use the following to answer question 2: The table shows the maximum amounts of autos and clothing that the United States and Canada can produce if they only produce one good. Both nations face constant costs of production....
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