Econ 100A MT1

Econ 100A MT1 - Department of Economics University of...

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Department of Economics Spring 2007 University of California Prof. Woroch Economics 100A : MIDTERM #1 EXAM – Version #2 GENERAL INSTRUCTIONS : Write your name and your GSI’s name on the front cover of two blue books. Mark one blue book as #1 and the other #2. The exam has 3 parts: put Parts I and II in blue book #1, and Part III in #2. There is a total of 100 points with point assignments given in the instructions for each part. A point translates approximately into 1 minute of time. Make preliminary calculations on scratch paper, but be sure to put all of your answers in the bluebooks. I. DEFINITIONS : Choose 2 of the following 3 terms. For each one, (a) give a precise but concise (2 or 3 sentences) definition and (b) illustrate your definition using a diagram. Each is worth 7 points for a total of 14 points. 1. The “consumer price index (CPI) bias” 2. A consumer’s “income-consumption path” 3. A firm’s “experience curve” II. TRUE or FALSE or UNCERTAIN and EXPLAIN : Choose 4 of the following 5 statements. For each, decide whether it is true or false, or whether it cannot be determined given the statement, but most importantly, explain the reasoning behind your answer in a few sentences .
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Econ 100A MT1 - Department of Economics University of...

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