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quiz1questions - 14.02. Fall 2001 QUIZ 1 STOP! READ...

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14.02. — Fall 2001 — QUIZ 1 STOP! READ INSTRUCTIONS FIRST: Read all questions carefully and completely before beginning the exam. Label all of your graphs, including axes, clearly; if we can’t read the graph, you will lose points on your answer. Show your work on all questions in order to receive partial credit. The quiz is worth a total of 100 points. Please use two blue books, one for questions 1 and 2, and one for 3 and 4. Write your name, TA name, and section or recitation time on each book. Also, return your copy of the quiz to the TA’s when you complete the test. No notes, calculators, or books may be used during the quiz. You will have 2 hours to complete the quiz. Good luck! QUESTION 1: TRUE, FALSE OR UNCERTAIN? 20 points Explain your answer completely but brie f y. 1. James Bond is about to retire and is thinking of selling his Aston Martin DB4 (his car). He spends £1,000 in repairing and tuning the engine, and F nally agrees to sell it to Miss Money Penny for £10,000. As a result, GDP increases by £11,000. (5 points) 2. The introduction of ATM machines has made it easier to withdraw cash from checking accounts. As a result, the Central Bank now has to buy
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quiz1questions - 14.02. Fall 2001 QUIZ 1 STOP! READ...

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