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e360_apape_final_practice

# e360_apape_final_practice - Econ 360 Final Preparation and...

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Unformatted text preview: Econ 360 Final Preparation and Review Questions May 12, 2008 General Comments on the Final Questions zero through three stars to designate difficulty The exam is 2 hrs, and hence 120 minutes = 120 points. On the exam: 1. 30 points = Passing 2. 60 points = highest C+ 3. 90 points = highest B+ 4. 120 points = highest possible score I will come up with questions such that: 1. Getting all zero star questions will be enough to pass (30 points) 2. Getting all the zero and one star questions will be a C+ (30 points) 3. Getting all zero, one, and two star questions will be a B+ (30 points) 4. Getting all zero, one, two, and three star questions will be an A (A+ if that were possible) (30 points) Note: points are points, so if you miss some zero star questions but get three star questions, they will compensate. The stars are there only to convey difficulty and to help allocate your time. In addition to these review questions, please review: 1. All homeworks 2. Midterms 1 and 2 3. Lecture notes For example, there are no elasticity questions in this document, but they may very well be on the final. The final is cumulative. There will be a small emphasis on material since Midterm 2. The topics before midterm 2 will be on the exam roughly in proportion to the time we spent on them in class (to the best of my ability.) Questions 1. One morning, you read in the Pipe Dream that the BU biology department has developed a new breed of tea which can be grown in upstate New York. Other than being able to survive the cold winters, this tea is identical to existing tea (taste, etc.). Answer the following questions and explain your answers. You may wish to use graphs in your explanation. (a) (4 points) * The news of this tea came out today: what do you expect to happen to the price and quantity of tea sold in Binghamton immediately ?...
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e360_apape_final_practice - Econ 360 Final Preparation and...

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