Economics 1 - Spring 2006 - Train - Final

Economics 1- - Department of Economics University of California Berkeley Professor Kenneth Train Spring 2006 ECONOMICS 1 FINAL EXAMINATION

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Department of Economics Professor Kenneth Train University of California, Berkeley Spring 2006 ECONOMICS 1 FINAL EXAMINATION May 12, 2006 INSTRUCTIONS 1. Please fill in the information below: Your Name: ______________________________________________ Your SID #: ______________________________________________ GSI’s Name: ______________________________________________ Section Day/Time: _________________________________________ 2. The exam ends at 8 pm. 3. If you finish after 7:45, please remain in your seat so that you do not disturb others. 4. When time is called, stop writing and pass your exam to the aisle. Please stay in your seat until all of the exams are collected. 5. There are a total of 180 points, 8 questions, and 14 pages, including this cover sheet. Points for each question are in parentheses. 6. Answer the questions in the space provided. (NO BLUE BOOKS.) If you need extra room to answer questions, use the backs of the pages. 7. Calculators are not permitted. Do not turn the page until you are told to begin the exam.
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Question 1: (40 points) True, False, Uncertain: Decide whether the following are true, false, or uncertain. Your grade is determined by your explanation; an answer without an explanation receives no credit. a) (10 points) When there is a negative externality associated with producing a good, a competitive market will choose to produce at a level where the total private surplus is not maximized. b)
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This test prep was uploaded on 04/01/2008 for the course ECON 1 taught by Professor Martholney during the Spring '08 term at University of California, Berkeley.

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Economics 1- - Department of Economics University of California Berkeley Professor Kenneth Train Spring 2006 ECONOMICS 1 FINAL EXAMINATION

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