Mid-Term (WK4) - Mid-Term(WK4 GradeforRonKnapp:Week4MidExam...

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Mid-Term (WK4) Grade for Ron Knapp: Week 4 Mid Exam  Numeric grade: 172/200  Letter grade:   Comments: Ron: Good effort on this midterm exam! As we cross the half-way point in this class, I just want to commend you on your efforts so far. Please keep on working hard and I know you will end this  class with a decent grade. Please contact me if you need my assistance. ~ Grace (-:  < Close Window   Autograde Summary These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor,  are in the "Details" section below.  Question Type: # Questions: # Correct: True/False 1 1 Multiple choice 19 15 Essay 5 N/A Grade Details  1. Question: Dividing the change in quantity on the X axis by the change in quantity on the Y axis calculates the slope of a line. Date Taken: 2/7/2010 2:26:03  AM Time Spent: 1:30:17  (1:30  allowed)  Points Received: 172 / 200  (86%)
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  Your Answer:         True               False       CO RRE CT   Points  Received: 5 of 5   2. Question: Economics is best defined as the study of:
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  Your Answer:          fina ncia l deci sion - mak ing              how con sum ers mak e purc hasi ng deci sion s              choi ces ma de by peo ple face d wit h scar city     CO RREC T          infl atio n, une mpl oym ent, and eco
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  Points  Received: 5 of 5   3. Question: Which of the following statements is correct
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  Your Answer:          In larg e mea sur e, eco no mic s is the stu dy of how peo ple ma ke choi ces     CO RREC T          If pov erty wer e elim inat ed ther e wou ld be no reas on to stud y eco nom ics              Eco nom ics is a
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  Points  Received: 5 of 5   4. Question: Costs that cannot be avoided, because they have already been incurred are known as:   Your Answer:          diff eren tial cost s              mar gina l cost s              opp ortu nity cost s              sun k cost s     CO RREC T   Points  Received: 5 of 5   5. Question: Production is the process by which:
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  Your Answer:          pro duct s are use d by con sum ers              reso urc es are tra nsfo rme d into usef ul for ms     CO RREC ANS WER          pro duct s are con vert ed into capi tal              reso urce s are allo cate d and
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  Points  Received: 0 of 5   6. Question: In response to news reports drinking a glass of red wine each day can reduce an individual's risk of heart disease, there will most likely be a(n
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  Your Answer:          incr ease in the de ma nd for red win e     CO RREC T          decr ease in the sup ply of red win e             
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