ECNexams_2007FALL

ECNexams_2007FALL - Department of Economics University of...

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Department of Economics University of California, Davis ECONOMICS 1A Fall 2007 L. Jay Helms First Midterm Exam Version A Last Name: First Name: Your Student ID Number: Please check your registered section number: [ ] A01 Ms. Dan Liu M 4:10-5 Storer 1344 [ ] A02 Ms. Dan Liu M 5:10-6 Wellman 229 [ ] A03 Ms. Dan Liu W 4:10-5 Storer 1344 [ ] A04 Ms. Dan Liu W 5:10-6 Wellman 235 [ ] A05 Mr. Matt Larsen T 7:10-8 Bainer 1132 [ ] A06 Mr. Matt Larsen T 8:10-9 Bainer 1132 [ ] A07 Mr. Matt Larsen R 6:10-7 Wellman 105 [ ] A08 Mr. Matt Larsen R 7:10-8 Wellman 105 [ ] A09 Mr.Tom Blake T 7:10-8 Bainer 1060 [ ] A10 Mr.Tom Blake T 8:10-9 Bainer 1060 [ ] A11 Mr.Tom Blake R 6:10-7 Wellman 103 [ ] A12 Mr.Tom Blake R 7:10-8 Wellman 103 On your Scantron form you must bubble in: Name: Last Name, First Name Subject: “Ecn 1A” Test No.: “1” Date: “10/25/07” Hour: Your section, for example, “A06” ID Number: Your nine-digit student ID number Test Form: Your exam version (“A”)
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Ecn 1A Fall 2007 – First Midterm Exam – Version A Page 2. Part A: Multiple Choice Questions (20 questions, each of which is worth 3 points) Instructions : Choose the best answer. Answer these multiple choice questions only on your Scantron. Warning : Scantron errors may occur if you fail to erase an incorrect answer completely. Where erasures are incomplete and the Scantron machine—detecting two answers to the same question—marks your answer as wrong, no regrading can be allowed. It is your responsibility either to be certain of your answers before you mark them or to be very careful to erase completely any incorrect markings. You may wish to replace your Scantron form with a new one if you need to correct an error. 1. Which of the following is not one of the four principles of individual decision making? a. Rational people make decisions based on average cost. b. People respond to incentives. c. People face tradeoffs. d. The cost of something is what you give up to get it. 2. The circular flow diagram has two loops. What are they? a. One loop represents the flow of goods; the other loop represents the flow of services. b. One loop represents the flow of capital goods; the other loop represents the flow of consumer goods. c. One loop represents the flow of goods and services; the other loop represents the flow of dollars. d. One loop represents the flow of dollars; the other loop represents the flow of financial assets.
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Ecn 1A Fall 2007 – First Midterm Exam – Version A Page 3. Use the following table to answer the next two questions: hours needed to produce one unit of sugar wheat Brazil 10 30 Cuba 20 40 3. What is the opportunity cost of 1 unit of sugar in Brazil? a. 1/3 unit of wheat. b. 1/2 unit of wheat. c. 3 units of wheat. d. 3/4 units of wheat. e. 2 units of wheat. 4. Which country has an absolute advantage in sugar? a. Brazil. b. Cuba.
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ECNexams_2007FALL - Department of Economics University of...

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